Rare Palo Alto Office Campus Attracts Big-Name Tenants

Tenants from the automotive, tech and AI sectors are competing to lease offices at 3411 Hillview Avenue in Palo Alto, a major South Bay campus.

The 70‑acre property, encompassing roughly 1.1 million square feet across 13 buildings, was acquired in September 2025 by an alliance of Harvest  Properties and TPG Real Estate, Mercury News reported. Newmark brokered the sale from former owner Broadcom.

The campus, part of the Stanford Research Park, offers enough space to accommodate multiple tenants and is now on the market as a potential headquarters site for advanced technology and automotive firms. General Motors, Tesla and xAI, billionaire Elon Musk’s artificial‑intelligence venture, are among the companies reportedly exploring leases or partnerships there, according to sources familiar with the discussions.

General Motors appears furthest along, having signed a letter of intent to lease about 400,000 square feet, which would make it one of the largest new corporate occupancies in Palo Alto in years. The site’s location — near Stanford University and major transportation corridors — positions it as a strategic hub for innovation and collaboration between automotive, AI and energy sectors.

Electric vehicle manufacturer Rivian already has a lease at the site. The Harvest-TPG campus represents about 10 percent of the larger Stanford Research Park, which has about 700 acres and 10 million square feet of R&D and office space.

Musk’s xAI already has three office leases in Palo Alto, including its headquarters at 1450 Page Mill Road. It also has workspace clustered nearby with 100,000 square feet at 1510 Page Mill Road and a suite at 153 Mill Road. His auto maker Tesla, another competitor at the Hillview Avenue property, has its global engineering headquarters in Palo Alto, although its main executive headquarters is in Austin.

The renewed activity at Hillview Avenue reflects a broader rebound in Silicon Valley’s office market, where tech and manufacturing firms are selectively expanding into high‑quality, flexible properties. If finalized, these leases could mark a significant step toward revitalizing Palo Alto’s commercial market and reaffirm the city’s role as a cross‑industry industrial hub.

– Joel Russell