Tech Company Triples Santa Clara Office Space

Another tech-centric company is doubling down on Silicon Valley office space as the Bay Area’s post-pandemic office recovery continues.

SiTime, which manufactures time-keeping mechanical systems for electronics, has leased 149,300 square feet across two office buildings in Santa Clara, the Mercury News reported, citing documents filed with the U.S. Securities and Exchange Commission. The buildings at 3250 and 3260 Jay Street are located near an interchange of U.S. Highway 101, San Tomas Expressway and Montague Expressway.

The nearly 150,000-square-foot lease marks a nearly tripling in office footprint for the Santa Clara-based company. The firm currently occupies a 50,400-square-foot building at 5451 Patrick Henry Drive.

Santa Clara has emerged as a de facto hub for companies manufacturing technology built into computers. Nvidia, the world’s most valuable company, has its headquarters in the city and is in the process of adding a nearly 700,000-square-foot building to its headquarters campus at 2788 San Tomas Expressway.

Nvidia has been gobbling up other office space in its South Bay home city over the past year. The company spent roughly $336 million for a four-building office complex on San Tomas Expressway last year as well as a 10-building, 13-acre office and research campus on Walsh Avenue near its headquarters for $123 million. It followed up those May purchases in July with an additional $4.5 million property purchase next to the four-building campus.

Santa Clara offices have been attracting investor interest as more tech and artificial intelligence companies bet on Silicon Valley. Last June, AllianceBernstein spent $21.7 million to buy a 152,300-square-foot office building at 2390 Mission College Boulevard out of foreclosure. In August, Ellis Partners and Baupost Group teamed up to buy the Campus at Scott, a three-building office park at 3315, 3325 and 3355 Scott Boulevard, for an undisclosed price. — Chris Malone Méndez