PLEASANTON -- Ellie Mae, a mortgage software company, has struck a deal to lease 106,000 square feet in Pleasanton, in a major expansion of its headquarters operations that could accommodate more than 500 workers, according to a new regulatory filing on Monday.
The tech company is taking the top three floors at 4420 Rosewood Drive in the California Center office complex, which has recently undergone a renovation, Pleasanton-based Ellie Mae said Monday.
"The additional space will enable us to continue to grow our staff to meet the needs of our expanding customer base," Sig Anderman, chief executive officer of Ellie Mae, said in a prepared release.
At present, Ellie Mae has about 300 employees in Pleasanton, said Bruce Entin, a spokesman for the company. It now occupies about 60,000 square feet in that city.
The new headquarters could accommodate about 530 employees, based on typical city regulations for offices in the Bay Area.
The company is expected to move into the new offices around April 2015, based on the starting point for the new lease, according to the regulatory filing. San Francisco-based Swift Realty Partners, the owner of California Center, renovated the offices to make them more attractive to prospective tenants.
"Ellie Mae is in a hiring mode right now," Entin said.
The deal was welcomed by local commercial realty brokers, since the office complex faces considerable vacancies after Ross Stores exited California Center to move its headquarters to neighboring Dublin.
"It's a win-win," said Jeffrey Weil, an executive vice president with Colliers International. "Ellie Mae is going into a Class A building. This is a great start to getting that building rented. And it keeps Ellie Mae in the area."
Ellie Mae provides on-demand software for an array of players in the residential mortgage industry. The company's system enables banks, credit unions and mortgage lenders to originate and fund mortgages in an automated process.
The lease also suggests that the Tri-Valley is a viable location for tech companies that want to relocate or expand in the area.
"There is an excellent labor pool for high-tech companies," Weil said. "Tech companies can recruit workers from the Tracy area, the Tri-Valley, and from Santa Clara County."
Contact George Avalos at 408-859-5167. Follow him at Twitter.com/georgeavalos.