Snowflake Expands in Dublin with Full-Building Lease in East Bay City

Snowflake Bay Area San Mateo Hines Dublin Oaktree Capital Management Pearlmark
One of the buildings at the Dublin Corporate Center | Courtesy of Hines

By Vladimir Bosanac

The San Mateo-based data platform company that today employs more than 4,500 employees in 20 countries expanded its home base in the Bay Area by fully leasing the 153,000 square foot 4140 Dublin Blvd. building in Dublin, Calif. located at the Dublin Corporate Center. The company will now have an opportunity to scale its operations in the East Bay and expand its presence across the region and from its home office at 450 Concar in San Mateo.

The lease was first reported by the San Jose Mercury News.

“Snowflake’s decision to expand in Dublin demonstrates their continued success as a business,” said Dublin Mayor Melissa Hernandez in a statement to that news organization. “We could not be more excited about their growth.”

This opportunity will add jobs in the region and help the company expand across functions in the future. “Snowflake is expanding its Dublin office footprint, growing to occupy an entire building in the Dublin Corporate Center and creating potentially over 500 additional job opportunities for a variety of functions in the coming years,” said Warrick Taylor, vice president of global workplace and real estate for Snowflake in a statement to the news organization.

The company had around 40,000 square feet leased in Dublin prior to this expansion.

Snowflake’s new landlord is going to be Hines, which owns the three-building Dublin Corporate Center with Oaktree Capital Management, according to the company’s website. Hines purchased the 440,592 square foot property in 2017.

Terms of the lease and length were not disclosed at this time.

Snowflake reported impressive results for the first quarter of fiscal 2023, which ended on April 30, 2022. The company registered an 84 percent growth in year-over-year quarterly revenue, which came to $394.4 million. Today, the company boasts a client base of 6,322 customers and 206 of those companies deliver revenue of greater than $1 million.

In May of 2019, the company announced that it was taking over all of Medallia’s 200,000 square foot office space leased at 450 Concar in San Mateo. Hines and Chicago-based Pearlmark are the two owners and developers of this property. Hines had placed the buildings on the market for sale in 2018 when it locked in Medallia and WeWork as tenants of the complex, according to previous reporting by The Registry. The asset was then taken off the market while the Snowflake lease was in negotiations.

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