Rocket Fuel quadruples space in Redwood City
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- Nathan Donato-Weinstein
- Real Estate Reporter- Silicon Valley Business Journal
- Email | Twitter
Rocket Fuel Inc.'s space needs are taking off like —
well, a rocket.
(Come on, you saw that one coming, right?)
The advertising technology
company, which confidentially filed for an initial public offering back in June,
has leased 105,775 square feet at Pacific Shores Center, the 10-building,
1.7-million-square-foot campus in Redwood City. The deal, signed in August, was
first noted in
a market report from Colliers International.
Its new lease is nearly four-and-a-half times the space it has at 350 Marine
Parkway, which I'm told is being offered for sublease.
Rocket Fuel's deal is another
indication —like you needed one — of the IPO-real estate connection. We
previously noted new deals that came around the same time as a public
offering, with Violin Memory and Gigamon being the most recent examples.
Rocket Fuel, founded in 2008, is taking three floors at 1900 Seaport Blvd.,
leasing suites 100, 300 and 400. The company will pay an initial monthly base
rent of $3.25 per square foot, according to an SEC filing. The tenant
improvement allowance is $35 per square foot.Brokers with Cassidy Turley represented the landlord, Starwood Capital and the Blackstone Group, the filing notes. Cornish & Carey Commercial Newmark Knight Frank represented the tenant.
We first told you about Rocket
Fuel IPO filing back
in August. The company, which offers
up consumer data for the digital advertising market using automated
decision-making tools and predictive models, had 405 U.S. workers and 60
overseas as of June 30. (For comparison, a year prior it had 190 and 15,
respectively.) It has regional offices across the U.S. and Europe.
Nathan Donato-Weinstein covers commercial real estate and transportation for the Silicon Valley Business Journal.
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