"OpenAI has officially signed a rental agreement to occupy office buildings at 350 and 380 Ellis St. in Mountain View, according to documents filed on Feb. 25 with the Santa Clara County Recorder's Office. The buildings together total roughly 439,000 square feet, according to the Property Shark commercial real estate database."
"OpenAI leased the office buildings for 10 years, the county real estate records show. The lease agreement also allows for two extensions of the original lease. Each extension would be for a period of six years. The components of the rental agreement that were included in the official filing also indicate that OpenAI could be in a position to greatly cement its presence in Mountain View."
"OpenAI obtained a right of first refusal to purchase the buildings, the real estate documents show. This decision by OpenAI to make this big move will open the way for more AI companies to expand in Silicon Valley rather than in San Francisco, said David Sandlin, an executive vice president with Colliers, a commercial real estate firm."
OpenAI has signed a 10-year lease for approximately 439,000 square feet of office space at 350 and 380 Ellis Street in Mountain View, enabling the company to employ several hundred people. The two three-story buildings total 264,700 and 184,300 square feet respectively. The lease agreement includes two optional six-year extensions and grants OpenAI a right of first refusal to purchase the properties, positioning the company to significantly expand its presence in Silicon Valley. This move signals a shift in AI company expansion patterns away from San Francisco toward Mountain View, according to commercial real estate analysts.
Read at www.mercurynews.com
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