Despite a number of tech companies looking to shrink their office space, Roblox is looking to expand its presence in the Bay Area. According to a 10-Q filing from late February, the global video game developer will soon be taking nearly 180,000 square feet of office space in San Mateo, while simultaneously giving up its former 78,911 square foot San Mateo headquarters space.
According to a source with knowledge of the transaction, Roblox will soon be occupying Station 2 @ Bay Meadows, a 179,496 square foot office building at 2850 S. Delaware St. The building was previously home to software company Guidewire, which will now be taking up Roblox’s former headquarters at 1 Franklin Templeton Campus. In the lease transaction, Roblox was represented by JLL, while Newmark represented Guidewire.
Per the lease agreement, Roblox will occupy the space at Station 2 for a term of seven years with an initial annual base rent of $12 to $15 million over the term, while Guidewire will occupy Roblox’s former headquarters for at least four years with an initial annual base rent of $4 to $6 million over the lease term.
Station 2 @ Bay Meadows is one of five buildings in a larger project by Wilson Meany and Stockbridge Capital Group. Both Station 1 & 5 remain under construction but have also been leased to Roblox, according to information from the source. Station 1 will total 219,000 square feet, while Station 5 will be 214,000 square feet. The buildings are located at 2750 Delaware St. and 3150 Delaware St., respectively.
In total, Bay Meadows includes five contemporary office buildings totaling 733,000 square feet, each of which have been designed by architecture firm HOK Architects. In addition to Roblox, a website for the Bay Meadows project shows that other tenants include Freshworks, Snowflake, Zuora and several others.
The office project is part of the larger 83-acre Bay Meadows transit-oriented development. As well as the significant amount of office space, the area is home to various residential and retail properties.