Moving Time: Tech Startup Apigee Leases New Space in San Jose to Seal Palo Alto Move, Visa Looking for Space in San Francisco Again
- Oct 23, 2013
By Alex Girda, Associate Editor
The Bay Area’s office market generally benefits from a hot tech market that sees development and leasing that is driven by expanding giants such as Google, Facebook and Twitter, as well as an influx of smaller companies betting on space in the technological epicenter of Silicon Valley. As space changes hands at a good pace in the Silicon Valley office market, downtown San Jose has recently seen its largest leasing deal take place with startup Apigee Inc. agreeing to take over a chunk of space at one of Equity Office’s assets.
Apigee is taking over 41,000 square feet of space at 10 Almaden Boulevard in San Jose. The space will be able to accommodate about 250 employees.
According to The Silicon Valley Business Journal, the company had been looking for space in its current city of residence, namely Palo Alto, but CEO Chet Kapoor felt that no other space matched the startup’s requirements. This marks a big move in real estate terms and a possible indication of a re-emergence of Silicon Valley’s largest city in the tech-driven office sector.
In other office leasing news, a company that just last year packed up and moved out of San Francisco is now reportedly looking for office space in The City.
Visa closed up shop in San Francisco in 2012 and moved its 100 employees to a new HQ in Forest City, but according to the San Francisco Business Times, the credit card company is looking for space in the 50-80,000 square-foot range. Visa is looking to move its mobile applications group to the city once it completes a lease in the San Francisco office market. According to that same source, Visa is moving its division in order to benefit from the hype that the city has with young professionals, therefore trying to attract the necessary workforce.
Image courtesy of equityoffice.com