Rambus strikes deal to move HQ to San Jose

SAN JOSE — Rambus has struck a deal to shift its corporate
headquarters to San Jose and to exit Sunnyvale, the tech company
said in a regulatory filing.

The Silicon Valley chip maker has leased roughly 90,000 square
feet in the 237 @ First complex in north San Jose, according to a
Securities and Exchange Commission filing.

“The office space will serve as the company’s corporate
headquarters,” Rambus said in the SEC documents.

At present, Rambus maintains its headquarters at 1050 Enterprise
Way in a part of Sunnyvale where tech behemoths such as Facebook,
Google, and Amazon have undertaken major expansions of their
operations and consume huge chunks of office space.

The remarkable expansions by the trio of titans have, in turn,
intensified pressure on some companies to seek greener pastures
elsewhere as rents rise and spaces dwindle in Sunnyvale.

Rambus’ lease in Sunnyvale is slated to expire at the end of
June 2020.

“The company expects to move to the new premises during the
summer of 2020,” Rambus said in the SEC filing, in sketching out
the time frame for its relocation.

Potentially as many as 450 to 600 Rambus employees, or even
more, could work in the north San Jose building the company has
leased at 4453 N. First St.

The new Rambus offices are located in a part of San Jose that is
witnessing a flurry of activity on the part of major tech
companies.

Google, through a series of property purchases, has quietly
assembled a vast campus of eight buildings along or near North
First Street. Some of the buildings are across the street from the
future Rambus headquarters site. Google also has leased several
buildings slightly further south on North First Street from famed
development firm Peery Arrillaga.

Roku, Samsung, and Hewlett Packard Enterprise also have jumped
into north San Jose.

The north San Jose lease is slated for more than 10 years, once
the rental term begins in April 2020, according to the SEC filing.
Rambus has options to extend the length of the deal.

Rambus also has arranged to expand in the office complex in the
deal with its landlord, 237 @ First builder South Bay
Development.

“The lease allows for an option to expand, wherein the company
has the right of first refusal to rent additional space in the
building,” Rambus said in the SEC filing.

Source: FS – All – Real Estate News 1
Rambus strikes deal to move HQ to San Jose