OpenAI has entered late-stage negotiations with KKR Real Estate Finance Trust Inc., which owns 350 and 380 Ellis St. in Mountain View, to lease the former Symantec headquarters, the San Francisco Business Times reported. KKR’s mortgage REIT seized the vacant 450,000-square-foot property in 2024 after former owners Goldman Sachs and TMG Partners returned the deed in lieu of foreclosure.
Negotiations have accelerated in recent days and a deal could be imminent, sources told the Business Times. An agreement has not been finalized and the talks could still stall or fall apart. TMG Partners continues to lease and manage the property on KKR’s behalf, a spokesperson told the Business Times.
OpenAI has been seeking up to 500,000 square feet for a Silicon Valley hub, potentially one of the Bay Area’s largest office leases of the past year, the Business Times reported last October. The Mercury News first reported in December that the company was considering 350 and 380 Ellis.
Photo courtesy of Newmark.
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