General Motors is parking its Bay Area operations in a new complex in Palo Alto.
The Detroit-based automaker agreed to lease nearly 340,000 square feet at Harvest Properties and TPG Real Estate’s 13-building Stanford Research Park at 3411 Hillview Avenue in Palo Alto, the Silicon Valley Business Journal reported. Harvest and TPG acquired the property from Broadcom last year for $220 million.
General Motors has been circling the property in recent months as it seeks to scoop up talent from Stanford University. The firm is looking to consolidate hundreds of employees across the Bay Area at the campus starting as early as next year, sources told the publication. The property will consist of a mix of offices and research and development labs with space for up to 1,500 workers, including new hires.
GM won’t be the only automaker at the campus, as electric truck manufacturer Rivian already leases space there. The Harvest and TPG portion of Stanford Research Park represents roughly 10 percent of the larger development with about 1.1 million square feet across 13 buildings. Stanford Research Park spans 700 acres with 10 million square feet of office and research and development space.
Harvest and TPG are sinking millions of dollars into renovations for the GM campus to outfit it with amenities including a new fitness center, cafeterias and an outdoor amphitheater, aligning with widespread tenant demands for worker amenities across the Bay Area.
GM is consolidating its regional operations in Palo Alto as it looks to double down on electric vehicles, artificial intelligence and advanced software. The company has poached AI leaders from Silicon Valley heavyweights like Alphabet, Meta and Amazon Web Services, the Wall Street Journal reported.
Before settling on Stanford Research Park in recent months, GM was reportedly looking elsewhere in Silicon Valley to plant its flag. Late last year, the automaker was reportedly exploring moving into the six-building Tech Corners office complex in Sunnyvale before landing on Palo Alto as its city of choice.
— Chris Malone Méndez
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