Archer Aviation has leased a 105,000-square-foot office building in San Jose, previously affected by loan failure and foreclosure. The building, managed by Copia Lending, was valued at $23.7 million, which is considerably lower than its assessed value. The lease allows Archer to consolidate its presence in the South Bay, where it has multiple large office hubs. The company is also advancing its plans for an urban air mobility network in the Bay Area that will utilize electric air taxis to improve commute efficiency between multiple cities.
Archer Aviation has leased a 105,000-square-foot building at 10 West Tasman Dr., previously troubled with a loan failure, for its expansion efforts.
The Copia Lending affiliate placed a value on the office building of $23.7 million, significantly below the assessed value as of January 2024.
Tenants in the South Bay are actively seeking new office locations due to attractive rents in the weakened commercial market.
Archer's urban air mobility network plans to connect several cities in the Bay Area with electric-powered air taxis.
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