Pure Storage takes 330K sf in Santa Clara sublease
To move from Mountain View; Analog Services continues consolidation to San Jose
Pure Storage has joined a Bay Area reshuffling of headquarters space by moving into larger digs.
The provider of data storage devices and services is moving its corporate headquarters from Mountain View to a larger space in Santa Clara, the Silicon Valley Business Journal reported.
The company inked a deal to sublease 330,000 square feet.of office space from Analog Devices in Santa Clara Square at 2555 and 2565 Augustine Dr. Terms of the lease were not disclosed. The mixed-use development, owned by the Orange County-based Irvine Company, lies southeast of the intersection of U.S. Highway 101 and Bowers Avenue, seven miles from its former headquarters.
Pure, which had 1,157 employees in Silicon Valley last year, listed its 250,000-square-foot former headquarters at 650 Castro St. in Mountain View, plus several other buildings, for sublease.
It plans to consolidate the company at its new Santa Clara offices, which come fully furnished and built out for occupancy.
Steve Clark, Bart Lammersen and Joe Long of JLL represented Pure Storage in the deal. Todd Beatty, Kelly Yoder, Steve Horton and Carrick Young of Cushman & Wakefield represented Analog Devices.
In April, Analog Devices had listed the sublease of half the space it occupied in two buildings at Santa Clara Square in a move to consolidate employees and real estate at its San Jose campus, the Business Journal reported.
The Massachusetts chipmaker had eight years left on its lease, according to CBRE. Pure will assume the rest of its term.
Pure Storage joins a growing list of Bay Area companies that have either upgraded or downsized their corporate offices in the wake of the coronavirus pandemic, when changing work models have roiled office markets in major U.S. cities.
Last month, digital real estate platform Qualia Labs listed its 39,0000-square-foot headquarters in San Francisco for sublease. Executives say it may move to Austin, Texas.
The Qualia relocation also follows recent corporate moves by Ripple, Splunk, Wells Fargo, and the State Bar of California, which mostly downsized to smaller offices in favor of a hybrid office and work-from-home employee model.
TaskRabbit, a worker-for-hire platform with more than 300 employees, announced last month it would be closing its San Francisco headquarters and all its physical offices to work remotely. Before the pandemic, its corporate office took up nearly 20,000 square feet over three floors.
Now the IKEA-owned firm will pull up stakes from its downsized headquarters of 7,500 square feet in Rincon Hill.
As in Pure Storage’s upgrade, not every company is downsizing.
Finix, a payments company, just moved its headquarters into a larger office in San Francisco as other firms trim office space to work from home. The financial tech firm relocated from South Park to a century-old Art Deco building in SoMa.
[Silicon Valley Business Journal] – Dana Bartholomew