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(Google Maps) 2315 North First Street, an office and research campus in north San Jose. SAN JOSE — An artificial intelligence technology company will move its headquarters to a San Jose office campus in a leasing deal that will enable it to greatly expand its Silicon Valley operations. Astera Labs has leased 154,200 square feet of a two-building office complex at the corner of North First Street and Charcot Avenue in north San Jose, documents on file with the Securities and Exchange Commission show. Loading your audio article SAN JOSE — An artificial intelligence technology company will move its headquarters to a San Jose office campus in a leasing deal that will enable it to greatly expand its Silicon Valley operations. Astera Labs has leased 154,200 square feet of a two-building office complex at the corner of North First Street and Charcot Avenue in north San Jose, documents on file with the Securities and Exchange Commission show. 2345 North First Street, an office and research campus in north San Jose.(Google Maps)(Google Maps) Sobrato Organization, acting through its affiliate that owns the property, leased the two buildings to Astera Labs. The addresses include 2315 and 2345 North First St. The office deal represents the latest evidence that a turnaround could be emerging for the South Bay commercial real estate market. Office spaces and gathering areas in an office complex at 2315 and 2345 North First Street in north San Jose, concept.(CBRE)(CBRE) 2315 and 2345 North First Street, an office and research campus in north San Jose.(Google Maps)(Google Maps) Related Articles

Foreclosed San Jose hotel may go up for sale after major sports events Former Birkenstock site in Marin County sold to Eames Institute for $36 million Foreclosures, defaults undermine hotel deals in Bay Area, California Soup kitchen buys San Jose property to meet rising demand South Bay apartment hub bought in deal that tops $60 million A growing number of tech companies are completing big office rental deals in the region. That would be a welcome contrast to the sour office market that has haunted the Bay Area for about two years. Astera Labs’ rental agreement in San Jose represents a major expansion of the company’s operations in the Bay Area. The deal will enable it to triple the space of its current 51,300-square-foot location in Santa Clara. Astera also has an option to expand beyond the 154,200 square feet it is leasing at the North First Street campus, the SEC filing shows. “The company also has the right of first refusal and the option to expand the premises to include all of the remainder of the building located at 2315 North First St.,” Altera Labs stated in its SEC filing. The office campus totals 224,100 square feet, according to a marketing brochure for the complex that was circulated by CBRE commercial real estate brokers Vincent Scott and Mike Filice, who have been scouting for tenants on behalf of the Sobrato firm. The property consists of two four-story office buildings and an executive conference center. One office building totals 110,800 square feet, the other is 110,700 square feet and the conference center totals 2,500 square feet, the CBRE brochure states. The north San Jose lease is slated to commence in April, depending on when necessary construction activity on the campus is complete. The initial term will total 7.5 years, the SEC filing shows. Astera Labs also has the option to extend the lease for up to two consecutive terms of five years each. Astera Labs raised $713 million through its March 2024 initial public offering, pricing the shares at $36 each. The company’s shares closed at $140.93 on Jan. 3. Originally Published: January 6, 2025 at 7:00 AM PST Foreclosures, defaults undermine hotel deals in Bay Area, California

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