Retell AI, a fast-growing voice-AI startup, has locked in a three-year lease for 13,346 square feet at 540 Price Avenue in Redwood City, carving out a major footprint on the first and second floors with a May 1 move-in date. The company is combining the two suites into one Peninsula hub for its engineering, product and operations teams, effectively taking most of the building’s office space and securing a contiguous block near Highway 101.
The lease was first reported by CoStar, which lists the three-year term, the May 1 start date and JLL brokers Joey Alftin and Matt Winters as the dealmakers. CoStar also notes that Retell plans to operate both suites as a single, unified location.
About The Building
The two-story property at 540 Price Avenue totals roughly 17,025 rentable square feet and dates to 1985, according to public listings. Marketing materials describe the space as flexible R&D and office space, with contiguous availability up to 13,346 square feet and building features including elevator service and heavy-power capacity.
The property’s listing on LoopNet and the owner page at Beals Martin lay out floor plans, broker contacts and leasing details for the building.
Retell's Local Presence And Hiring
Retell has been steadily building a Bay Area presence and is flagging Peninsula roles in multiple job postings, a clear signal that it intends to scale locally. A recent job ad on Built In lists openings in Redwood City and San Carlos and describes the company as a voice AI provider for customer calls. That hiring push lines up neatly with the new office, which is set up to house product, engineering and customer-facing staff under one roof.
What This Means For The Peninsula Market
Retell’s lease highlights a broader trend on the Peninsula, where fast-moving AI and software companies are opting for smaller, move-in-ready spaces rather than sprawling, long-term downtown headquarters. The quick-occupancy setup at 540 Price Avenue, along with its configurable layouts, likely appealed to a startup that wants the ability to grow without overcommitting.
Public listing information, together with the transaction notice on CoStar, forms the public record of the deal and the building’s recent availability history. For those who like to read the fine print, additional details remain available on LoopNet.
