SiTime Corporation Expands Headquarters in Santa Clara with Lease for Two Buildings

SiTime Corporation (NASDAQ:SITM) has signed a lease for two buildings in Santa Clara, totaling 149,300 square feet, which will serve as its new headquarters. The occupancy is expected to start from April 1, 2027, and will last for 13 years, with two additional 5-year extensions. The rent for the first 6 months is abated, and the agreed rent will increase by 3% annually after 2 years of occupancy. The landlord will provide up to $16.05 million for initial buildout and $1.3 million for power upgrades, both of which are reflected in the base rent.