NetApp Moves Headquarters to New Silicon Valley Offices Designed for the Future of Work and the ‘Next Normal’

Rhea-AI Summary

NetApp (NASDAQ: NTAP) announced its relocation to new offices in San Jose, California, enhancing its hybrid work model. This move to a 303,000-square-foot headquarters in Santana Row reflects the company's transformation strategy post-pandemic. The modern office aims to foster collaboration, employee wellness, and community integration. NetApp has sold its Sunnyvale campus for $365 million, further customizing the new space throughout 2021. CEO George Kurian emphasized the focus on creating a differentiated employee experience to optimize productivity in a flexible work environment.

Positive

• Relocation to a modern 303,000-square-foot headquarters in San Jose enhances employee experience.
• Sale of the Sunnyvale campus for $365 million provides financial liquidity for the move.

Negative

• None.

NetApp^® (NASDAQ: NTAP), a global cloud-led, data-centric software company, today announced plans to move its global headquarters to new San Jose, Calif. offices that are more optimized for its future hybrid work model and employee needs.

The move from the company’s current campus location to state-of-the-art offices in the Santana Row section of San Jose is part of the company’s ongoing transformation, accelerated by the pandemic, and its future of work strategy to thrive in the next normal. The new office amenities will be designed to promote cross-functional collaboration and teamwork, cultivate inclusion, and increase business agility while prioritizing employee health, safety and wellness. NetApp’s new headquarters will keep the company in the heart of Silicon Valley and more closely embed it with the local community.

“NetApp is evolving to a flexible hybrid work model that allows us to deliver on our strategy to help more organizations put their data to work while further building a winning employee experience,” said NetApp CEO George Kurian. “Our constructive approach to the future of work and our new global headquarters will enable us to create a differentiated work experience that empowers our employees to deliver their best team-based work in a more connected space.”

“As a dynamic live-work-play destination that attracts world-class companies, we are thrilled to welcome a leading global organization like NetApp to Santana Row’s lineup of office tenants,” said Jan Sweetnam, Executive Vice President, Western Region President of Federal Realty Investment Trust. “NetApp’s employees will have an unparalleled office experience enhanced by Santana Row’s expansive array of high-quality amenities and best-in-class merchandising.”

NetApp’s new 303,000-square-foot global headquarters will be located at 700 Santana Row (also known as 3060 Olsen Drive), a modern eight-story, mixed-use complex in a walkable district of San Jose with easy access to the freeway system and shuttles to the nearby Diridon Caltrain station.

NetApp has completed the sale of its Sunnyvale campus for a purchase price of $365 million, and will be further customizing and moving into its new headquarters throughout the remainder of 2021.

About NetApp

NetApp is a global cloud-led, data-centric software company that empowers organizations to lead with data in the age of accelerated digital transformation. The company provides systems, software and cloud services that enable them to run their applications optimally from data center to cloud, whether they are developing in the cloud, moving to the cloud, or creating their own cloudlike experiences on premises. With solutions that perform across diverse environments, NetApp helps organizations build their own data fabric and securely deliver the right data, services and applications to the right people—anytime, anywhere. Learn more at www.netapp.com or follow us on Twitter, LinkedIn, Facebook, and Instagram.

NETAPP, the NETAPP logo, and the marks listed at www.netapp.com/TM are trademarks of NetApp, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210415005969/en/

FAQ

What is the significance of NetApp's new headquarters in San Jose?

NetApp's new 303,000-square-foot headquarters promotes a hybrid work model and enhances employee collaboration.

How much did NetApp sell its Sunnyvale campus for?

NetApp sold its Sunnyvale campus for $365 million, which will fund the move to the new headquarters.

When will NetApp move into its new headquarters?

NetApp plans to customize and move into its new headquarters throughout the remainder of 2021.

What are the benefits of NetApp's new office location?

The new office in Santana Row offers a modern work environment that supports employee wellness and community integration.

How does NetApp's relocation impact its business strategy?

The relocation aligns with NetApp's strategy to adapt to a hybrid work model and enhance its operational agility.