MediaTek is taking over the former Arista Networks digs at 5453 Great America Parkway in Santa Clara, locking in roughly 111,000 square feet at the Santa Clara Gateway office complex. The move fills a major hole along the Highway 237 corridor and signals that big Bay Area office blocks are becoming more attractive again as AI-fueled hiring picks up.
According to CoStar, MediaTek has signed on to anchor the former Arista Networks building at the Santa Clara Gateway campus. CoStar characterizes the lease as part of a broader wave of demand for Silicon Valley office space tied to the global artificial-intelligence boom.
A disclosure filed by MediaTek's parent company and republished by MoneyDJ shows that MediaTek USA Inc. is taking 110,979 rentable square feet at a monthly rent of about $410,622, or roughly $3.70 per square foot. The document lists a usage-right asset value of about $41.56 million, names Santa Clara Gateway I LLC as the counterparty, and details annual rent bumps of about 3%.
The space has long been home to Arista Networks. A lease amendment filed in 2023 spells out the 5453 Great America Parkway premises and indicates Arista's term for that building was set to run through March 31. That timing matches MediaTek's April regulatory filing stating that the company's U.S. unit secured usage rights to the building at the campus, effectively backfilling a sizable block of space.
A Local Leasing Rebound Takes Shape
Market watchers and brokers say the MediaTek deal is one more sign that big tenants are drifting back to the South Bay. The Silicon Valley Business Journal flagged the nearly 111,000-square-foot lease as part of a wider office rebound, while local coverage has followed other recent campus plays in Santa Clara. Brokers say those large-block deals are being read as early evidence that owners can realistically fill campus-scale vacancies again.
About the Santa Clara Gateway Campus
Santa Clara Gateway is a multi-building, Class A office complex that includes 5451, 5453 and 5455 Great America Parkway and is marketed by The Irvine Company. Property brochures and city records identify the campus as a major South Bay employment hub. With its scale, parking, and easy highway access, the site has become a target for tenants that want to consolidate R&D and engineering operations near Levi's Stadium and other Peninsula tech centers.
Local brokers say big-block leases from chip designers and AI-focused companies could push vacancy rates lower and nudge landlords to upgrade campus amenities and sharpen their leasing pitches. If AI-related demand for engineering and R&D space holds, analysts say these kinds of deals could serve as a bellwether for broader absorption of post-pandemic vacancies across Santa Clara's office market, a trend highlighted in recent coverage by CoStar.
