Everpure, which until late February traded under the Pure Storage name, is doubling down on Silicon Valley office space in a long-term play that pulls a big chunk of its local workforce under one roof. The data-storage company has signed a twin-building lease at Santa Clara Square, securing an entire six-story building as its headquarters through 2040, a move executives say is driven by stronger revenues and the growing need for centralized space to handle data-management work tied to AI projects.
According to CoStar, Everpure's agreement spans multiple buildings at Santa Clara Square and will make the company the primary occupant of one six-story tower through 2040. CoStar reports that the lease comes as Everpure expands its workforce on the back of rising revenues and helps soak up some of the high-quality office space sitting on the sidelines in the South Bay. The outlet frames the deal as part of a broader comeback story for tech-oriented office demand.
Rebrand And Revenue Milestones Back The Big Office Play
In a February 23 press release, the company announced that it would retire the Pure Storage name in favor of Everpure and disclosed an agreement to acquire data-management firm 1touch, according to Everpure. Two days later, on February 25, Everpure reported fiscal 2026 revenue of roughly $3.6 billion and said it had hit its first billion-dollar quarter, according to Everpure. “Everpure delivered an outstanding fourth quarter, achieving our first billion-dollar revenue quarter and capping off a strong fiscal year,” CEO Charles Giancarlo said in the investor statement.
AI Tenants Are Rewriting The Office Rulebook
Industry data show that tech and AI-focused firms now account for a growing share of U.S. office leasing activity, a shift that has helped reignite interest in top-tier Bay Area space, according to CBRE. Analysts say companies that power AI, from data-management platforms to service providers, tend to hunt for contiguous, well-equipped headquarters where they can house large teams and labs, which naturally pushes them toward bigger, multi-floor commitments. Local brokers point to Everpure's deal as a high-profile example of tenants pivoting away from short-term or patchwork hybrid setups and toward longer, consolidated leases.
Santa Clara Feels The Ripple Effects
Everpure's latest move builds on the company's 2023 shift into Santa Clara. Pure Storage opened its global headquarters in the city in June 2023, giving the firm an existing campus to grow from, according to Everpure. The new lease is expected to pull a noticeable slice of high-quality office inventory off the market and hands local landlords a creditworthy tenant to anchor a suburban campus. City officials and property owners will be watching closely to see whether other AI-era tenants follow suit by turning temporary expansions into multi-year deals that could reshape leasing patterns across Santa Clara and the wider South Bay.
