After years of expanding its offices in Pleasanton, Rimini Street is unloading the whole package.
The Las Vegas-based enterprise software service company is subleasing its 70,000-square-foot offices at 6601 Koll Center Parkway, the San Francisco Business Times reported. Asking rents were not disclosed.
Rimini Street, which has occupied the East Bay building since 2006, had listed part of it for sublease before deciding to list the entire property this month, according to Chad Arnold of Colliers, who represents the firm along with Brian Lagomarsino.
“Work from home continues to gain popularity, and companies are looking to cut real estate costs,” Arnold told the Business Times.
Rimini had expanded its offices in Pleasanton several times over the years, according to regulatory filings. The company couldn’t be reached for comment.
Its most recent expansion at 6601 Koll Center was in September 2020, when it moved from nearly 65,000 square feet to its current 69,603 square feet now up for sublease.
Last March, Rimini said it was “expanding in multiple locations globally,” a trend that could push the company to search for more office space, according to a filing with the Securities and Exchange Commission .
It wasn’t clear where the publicly traded firm, which leases offices in Chicago, New York and nearly two dozen other locations worldwide, sought to expand.
Marketing materials from Colliers’ Las Vegas office show it had sought to sublease part of its Nevada headquarters in the spring of 2021.
The 17-year-old company said last fall it was enabling a “predominantly remote workforce.” The vast majority of the U.S.-based jobs on Rimini’s website are listed as remote.
The company is embroiled in a longtime legal dispute with Oracle, which accused the firm of copyright infringement. The lawsuit, filed in 2010, is ongoing.
In November, the Texas-based Oracle put its five-story, nearly 186,000 square-foot office building in Pleasanton up for lease.
— Dana Bartholomew
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