SANTA CLARA — Texas Devices has leased an enormous chunk of workplace area in Santa Clara in a deal that gives a welcome counterpoint to different corporations’ downsizing efforts amid the dreary drumbeat of tech trade cutbacks.
The rental transaction was accomplished through the first quarter of 2023 and can allow the tech titan to maneuver into workplace areas at 4555 Nice America Parkway close to the amusement park of the identical identify.
Texas Devices leased round 205,000 sq. ft, in keeping with sources with data of the rental transaction.
The leasing deal is among the largest workplace transactions in Silicon Valley up to now this yr, industrial actual property databases present.
Texas Devices leased area inside Nice America Commons, in keeping with the sources.
The advanced consists of two fashionable workplace buildings that entrance on Nice America Parkway between Patrick Henry Drive and Outdated Glory Lane.
Harvest Properties is the principal proprietor of the workplace middle.
Cushman & Wakefield brokers Branon Bain, Erik Hallgrimson and Nick Lazzarini have been advertising the workplace advanced on behalf of the property proprietor. Not one of the three brokers may very well be reached for remark.
Texas Devices didn’t instantly reply to a request for remark relating to the rental transaction.
The quantity of workplace area Texas Devices leased might doubtlessly accommodate 700 to 1,000 staff, based mostly on typical formulation for workplace sq. footage per worker.
It wasn’t clear when Texas Devices may transfer into the places of work.
For a number of months, quite a lot of tech corporations have revealed plans for layoffs and reductions within the workplace area they have been leasing or occupying within the wake of a slowdown within the economic system.
The tech corporations in some situations have tried to sublease surplus workplace area or put up on the market workplace facilities they personal.