Texas Instruments rents huge Santa Clara office space near amusement park

SANTA CLARA — Texas Instruments has leased a huge chunk of office space in Santa Clara in a deal that offers a welcome counterpoint to a dreary drumbeat of tech industry cutbacks and downsizing efforts.

The rental transaction was completed sometime during the first three months of 2023 and will enable the tech titan to move into office spaces at 4555 Great America Parkway in Santa Clara.

Texas Instruments leased somewhere around 205,000 square feet, according to sources with knowledge of the rental transaction.

The leasing deal is one of the largest office transactions in Silicon Valley so far this year, commercial real estate databases show.

Texas Instruments leased space within Great America Commons, according to the sources.

The complex consists of two modern office buildings that front on Great America Parkway between Patrick Henry Drive and Old Glory Lane.

Harvest Properties is the principal owner of the office center, which is adjacent to California’s Great America amusement park.

Cushman & Wakefield brokers Branon Bain, Erik Hallgrimson and Nick Lazzarini have been marketing the office complex on behalf of the property owner. None of the three brokers could be reached for comment.

Texas Instruments didn’t immediately respond to a request for comment regarding the rental transaction.

The amount of office space that Texas Instruments leased could potentially accommodate 700 to 1,000 workers, based on typical formulas for office square footage per employee.

It wasn’t clear when Texas Instruments might move into the offices that it’s leased.

For several months, tech companies have revealed plans for layoffs and reductions in the office space they were leasing or occupying in the wake of a slowdown in the economy.

The tech companies in some instances have attempted to sublease surplus office space or put up for sale office centers that they own.