SAN CARLOS -- Softbank has leased two large office buildings on the site of the former Circle Star Theater in San Carlos where the software firm is expected to move several hundred jobs and one of its tech subsidiaries, an under-the-radar company called Starburst, local government officials and realty brokers said.

The space that Softbank is renting is about 240,000 square feet, one of the significant lease deals this year in the Bay Area. Each building is roughly 120,000 square feet in size. The Softbank operation has begun to occupy one of the buildings and intends to occupy the second, San Carlos and San Mateo County officials said.

"We are very pleased to have the buildings leased," said Margaret Jensen, San Mateo County's deputy county manager. The county is the owner of the two buildings, located at 1 Circle Star Way and 2 Circle Star Way.

Potentially 800 to 1,000 Softbank workers could occupy the two-building site, based on typical zoning and space requirements for this type of a building.

"This is great for the local economy and the job market," said Phil Mahoney, an executive vice president with Cornish & Carey Newmark Knight Frank, a commercial realty firm that helped to arrange the lease. "This is a new company to the area."

At one point, San Mateo County intended to occupy the buildings itself for county operations. But the county eventually decided to find tenants for the property, county officials said.

"This will be a real shot in the arm for San Carlos," said John Maltbie, San Mateo County manager.

Softbank looks to be a long-term occupant at the site. The company signed a lease that extends through 2020. And the company has an option to extend the lease by an additional 10 years, Jensen said. Other financial terms weren't disclosed. In response to prior inquiries from this newspaper, Softbank representatives didn't wish to discuss the lease or the company's move to San Carlos.

"To have jobs coming into San Carlos is terrific," said Jeff Maltbie, San Carlos city manager. "Since the county had owned the buildings and they were empty, the properties have been off the tax rolls. Once they lease it out to a private company like Softbank, they will again generate tax revenue. The city, county, and school districts will all benefit from the Softbank lease."

Contact George Avalos at 408-859-5167. twitter.com/georgeavalos