OpenAI inks 202k‑sqft East Bay lease
OpenAI signed a lease on a 202,000‑square‑foot industrial robotics facility near Richmond as it expands operations across the Bay, following a mammoth $12 billion funding round that pushed its valuation to roughly $730 billion — a clear signal AI companies are chasing big, power‑ready industrial footprints. ( )
County deed records filed March 9, 2026 list OpenAI OpCo LLC as the tenant for 1411 Harbour Way South, the Portside Commerce Center terminal in Richmond. (Grandview Independent) Broker and marketing materials show the Terminal 3 building measures roughly 202,371 square feet with about 6,775 square feet of office area and 230 parking stalls, and the site was listed divisible down to ~101,185 square feet. (CommercialCafe) JLL leasing materials and property listings state the building offers heavy electrical service (12,000 amps / ~15 MW) via three ~4,000‑amp switchboards and was marketed with dock access and waterfront logistics capabilities. (CommercialSearch; JLL marketing pdf) The Portside site had been developed for battery maker Moxion Power before that company collapsed in 2024, leaving the nearly completed warehouse available for a new anchor tenant. (Grandview Independent; The Real Deal) Property zoning and planning records identify the parcel as Terminal 3 within the Port of Richmond, designated IW (industrial water‑related) and noted in Bay Conservation & Development Commission materials as port‑priority with deep‑water berth capability. (ZoomProspector; CommercialSearch) OpenAI’s Richmond move joins a wave of recent Bay Area deals by the company, including a five‑building, 450,000‑square‑foot Mountain View campus lease announced March 23, 2026 and a Mission Bay footprint that industry reporting places above 1 million square feet. (KREF/TMG press release; CoStar) Corporate filings and press reports show OpenAI closed a $110 billion funding round on Feb. 27, 2026 with $50 billion from Amazon and $30 billion each from Nvidia and SoftBank, putting the company at a roughly $730 billion pre‑money valuation. (CNBC; TechCrunch)
