{"id":1004553308,"date":"2021-10-08T03:58:50","date_gmt":"2021-10-08T11:58:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004553308"},"modified":"2022-12-08T21:49:18","modified_gmt":"2022-12-09T05:49:18","slug":"tesla-announces-hq-move-to-austin","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tesla-announces-hq-move-to-austin\/","title":{"rendered":"Tesla Announces HQ Move to Austin"},"content":{"rendered":"
\"\"<\/a>

Current Tesla HQ within Stanford Research Park.<\/p><\/div>\n

Tesla is moving its headquarters from Palo Alto, Calif., to Austin, CEO Elon Musk revealed yesterday during the company\u2019s annual stockholders meeting.<\/p>\n

The move might deal another blow to the San Francisco Bay Area\u2019s recovering economy<\/a>, as the list of tech companies moving out or downsizing their footprint continues to grow.<\/p>\n

It is unclear how many of its office jobs Tesla will relocate to Texas. The exact location is yet unknown, but most likely the electric car manufacturer will take up space relatively near its 4 million-square-foot Giga Texas factory\u2014currently one of the largest projects under development in the metro\u2014at 12733 Harold Green Road in Austin.<\/p>\n

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READ ALSO<\/strong>: San Francisco Market Update: Sales Volume, PSF Prices Up<\/a><\/p>\n

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A timeline of the move was not provided, but Musk clarified that this does not mean Tesla is completely moving out of California. The company will continue to operate its factory in Fremont, where all Models X and S are made, and expects to \u201cincrease output by 50 percent.\u201d However, the CEO noted that housing costs and other constraints place a hard cap on growth. \u201cThere\u2019s a limit to how big you can scale in the Bay Area,\u201d he said.<\/p>\n

Tesla first moved into the 350,000-square-foot building within Stanford Research Park 11 years ago. The office\u2014located at 3500 Deer Creek Road\u2014eventually grew to house 650 employees. In 2018, Tesla expanded its footprint, leasing office space in two other buildings, this time across the Bay, in Fremont, at 6800 and 6900 Dumbarton Circle, in an office park owned by Peery Arrillaga. Some 1,500 employees were moved to this new location, The Mercury News<\/em> reported at the time.<\/p>\n

\"\"<\/a>

Tesla’s 4.8 million-square-foot factory in Fremont<\/p><\/div>\n

The Tesla Fremont Factory initially opened in 1962 as the General Motors Fremont Assembly. The EV manufacturer acquired the property in 2010 for $42 million, CommercialEdge data shows. The 12-building, 4.8 million-square-foot factory houses approximately 10,000 Tesla employees (as of June 2018).<\/p>\n

Also in Fremont, Tesla operates a pilot battery plant\u2014located about a mile from its car factory, at 48370 Kato Road\u2014which produces 4680-type batteries. In the same meeting, Musk noted that it has a potential production capacity of 10 gigawatt hours per year, further explaining that this would provide enough cells for the Giga Texas factory to scale up production of vehicles once it becomes operational.<\/p>\n

Tech company relocations from California continued this year. In January, data center giant Digital Realty announced its move to Texas. In May, Oracle closed on the $155 million sale of its San Jose headquarters<\/a> to PIMCO and Lane Partners. In markets such as the Bay Area, the tech relocation phenomenon is counterbalanced, in part at least, by a substantial growth in the life science sector, while tech-leased assets continue to attract large sums\u2014such as KKR\u2019s $535 million acquisition<\/a> of a Micron Technology-leased campus in August.<\/p>\n","protected":false},"excerpt":{"rendered":"

Despite the relocation, the EV manufacturer plans to increase its output at the Bay Area factory.<\/p>\n","protected":false},"author":1284,"featured_media":1004553317,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21808,21748,21742,21747,1609,15],"tags":[37245],"class_list":["post-1004553308","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-austin","category-featured","category-industrial","category-latest","category-office","category-san-francisco","category-west","tag-tesla-motors"],"acf":[],"yoast_head":"\nTesla Announces HQ Move to Austin - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/tesla-announces-hq-move-to-austin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tesla Announces HQ Move to Austin\" \/>\n<meta property=\"og:description\" content=\"Despite the relocation, the EV manufacturer plans to increase its output at the Bay Area factory.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/tesla-announces-hq-move-to-austin\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-08T11:58:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T05:49:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/Tesla-Fremont-Plant.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tudor Scolca\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/tesla-announces-hq-move-to-austin\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/tesla-announces-hq-move-to-austin\/\",\"name\":\"Tesla Announces HQ Move to Austin - 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