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Brett Adcock Of Figure AI Leases Mixed-Use Space From Landlord Henry Steinberg In San Jose

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LEASED
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California

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Mixed-use98,700 SF
Leased 03/17/2025
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LEASED

Brett Adcock Of Figure AI Leases Mixed-Use Space From Landlord Henry Steinberg In San Jose

3960 North 1st Street

See Similar Deals
Mixed-use98,700 SF
Leased 03/17/2025
HS
BA
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$0
Total Square Footage:98,700 SF
Transaction Type:Lease

The property asset involved in the transaction is a mixed-use facility located at 3960 North 1st Street in San Jose. This location encompasses a total square footage of 98,700 square feet, serving as the new headquarters for Figure AI, which previously occupied a 27,900 square-foot space in Sunnyvale.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not disclosed
  • Address: 3960 North 1st Street
  • Market: San Jose
  • Landlord: Henry Steinberg - EQT Exeter
  • Tenant: Brett Adcock - Figure AI

Figure AI's relocation to this facility is intended to support its manufacturing, fleet operations, and engineering functions, with lease terms with the landlord EQT Exeter not disclosed.

Details

LEASED
IMAGE: Henry Steinberg & Brett Adcock DATE: 03/17/2025 ADDRESS: 3960 North 1st Street MARKET: San Jose ASSET TYPE: Mixed-use ~ SF: 98,700 LANDLORD: Henry Steinberg - EQT Exeter (@EQTExeter) TENANT: Brett Adcock (@Brett_Adcock) - Figure AI (@Figure_Robot) NOTE: Figure AI relocated its headquarters to a 98,700-square-foot facility at 3960 North First St. in San Jose, nearly quadrupling its former 27,900 SF space in Sunnyvale. The new "robot campus" at Assembly at North First will support manufacturing, fleet operations, and engineering, though lease terms with landlord EQT Exeter were not disclosed.

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Deal Type
Effective Rent (Annual)

$5,657,424.44

Total Lease Value

$56,574,244.40

Net Landlord Cash Flow$5,657,424.44