Figure AI Leases 99K SF for New San Jose Headquarters Plant

Figure AI has moved its headquarters to San Jose from Sunnyvale, nearly quadrupling the size of its office and manufacturing hub.

The artificial intelligence robotics firm now occupies a 98,700-square-foot industrial flex building at the Assembly at North First tech campus at 3960 North First Street, the SiliconValley.com reported.

Terms of the lease with landlord EQT Exeter, based outside of Philadelphia, were not disclosed.

Figure AI’s former Sunnyvale office totaled 27,900 square feet, according to LoopNet.

Its new “robot campus” in San Jose will support “manufacturing, fleet operations and overall engineering/design build-out,” Brett Adcock, founder and CEO Figure AI, said on his LinkedIn page.

The headquarters sits next to the hub for Logitech within the six-building Assembly at North First complex once occupied by Lam Research, a semiconductor firm.

In 2021, EQT Exeter bought the 27-acre, 489,100-square-foot campus for $192 million, or $393 per square foot, according to The Real Deal. The campus, built in 1984, was renovated in 2018, according to Loopnet.

Figure AI is working to “bring humanoid robots into commercial operations,” according to Adcock.

In February last year, Figure AI landed $675 million through a capital raise from Microsoft, OpenAI Startup Fund, Nvidia, Amazon founder Jeff Bezos, Parkway Venture Capital, Intel Capital and others.

EQT Exeter, founded in 2006 as Exeter Property Group, has more than $30 billion in assets under management, including more than 2,000 properties and 375 million square feet of warehouses, office and life sciences buildings and homes, according to its website.

In early 2021, Swedish private equity manager EQT AB acquired Exeter Property Group and renamed it EQT Exeter, which serves as its real estate arm.

— Dana Bartholomew