Ambarella Poised to Lease Santa Clara Building for New HQ

Ambarella wants to move to a new headquarters in Santa Clara, a potential win for new landlord South Bay Development.

The locally based developer of visual artificial intelligence products intends to lease a 57,900-square-foot office building at The Quad at Tasman, at 3001 Tasman Drive, the Silicon Valley Business Journal reported, citing a regulatory filing.

Terms of the pending deal with Los Gatos-based South Bay Development were not disclosed. Brokers Phil Mahoney and Ben Stern of Newmark are representing Ambarella in the lease.

Ambarella, whose hub is at 3101 Jay Street, intends to set up shop inside its new headquarters in the fall, after office renovations are completed. The lease at its Jay Street office ends in September 2026.

The new offices are part of a relocation by Ambarella, Mahoney said, as the company exits its current Santa Clara hub. The company plans to have more than 200 employees working at The Quad offices.

South Bay Development bought the 410,000-square-foot, seven-building Quad at Tasman campus for $51 million, or $124 a square foot. The purchase marked a steep discount from what TMG Partners paid in 2020: $152 million, or $371 per square foot.

Ambarella wants to lease the vacant two-story building once occupied by the failed Silicon Valley Bank, Mahoney said. The building was built in 1980, according to LoopNet.

Before the bank imploded in March last year, it occupied half the complex.

The Quad, three blocks from Levi’s Stadium, has an outdoor courtyard, coffee shop, bocce ball courts, fitness center, 28 EV charging stations and a food truck zone.

Ambarella’s lease marks the first deal for the campus under South Bay’s ownership, Mahoney said.

Silicon Valley had a rise in leasing activity last quarter, driven by the technology sector with its continued focus on securing large leases, according to a report from Savills.

— Dana Bartholomew