Astera Labs to Triple Size of Silicon Valley Headquarters

Astera Labs will triple the size of its Silicon Valley headquarters after inking a lease for 154,200 square feet in north San Jose.

The Santa Clara-based artificial intelligence firm has leased a two-building office complex at 2315, 2343 and 2345 North First Street, SiliconValley.com and the Silicon Valley Business Journal reported, citing a regulatory filing.

Financial terms of the deal with owner The Sobrato Organization, based in Mountain View, were not disclosed.

Astera plans to relocate this spring from its 51,300-square-foot headquarters at 2901 Tasman Drive, in Santa Clara.

The timing allows the eight-year-old tech firm to finish its current lease and allow for construction of its new offices, less than four miles away near San Jose Mineta International Airport.

The 7.5-year lease is set to begin in April at the completion of its remodeled headquarters, according to the Securities and Exchange Commission filing. Astera has the option to extend the lease for two consecutive terms of five years each.

It also has the option to expand its hub to include the rest of the building at 2315 North First Street.

The 224,100-square-foot office campus at North First Street and Charcot Avenue, built in 1998, has two four-story office buildings, one containing 110,800 square feet, the other 110,700 square feet, plus a 2,500-square-foot conference center, according to a CBRE brochure.

Astera Labs, which provides connectivity for AI and cloud infrastructure, raised $713 million through a March 2024 initial public offering, pricing the shares at $36 each. Company shares hovered near $138 on Jan. 7, according to Yahoo Finance.

Silicon Valley had a boost in office leasing activity late last year, according to Savills. The uptick was “driven by the technology sector’s strong presence and its continued focus on securing large leases,” Savills said in a fourth quarter office report.

— Dana Bartholomew