Sub Markets

Property Sectors

Topics

California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
California  + Bay Area  + Office  | 

OpenAI in Advanced Talks for Former Symantec Headquarters Campus

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.

Read More News Stories About: KKR
Connect

Inside The Story

KKR Real Estate Finance Trust

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Lease
New call-to-action
New call-to-action