Box.net, a high-flying cloud company that's busy hiring more workers as it expands, is relocating to Los Altos in a move that will nearly quadruple its space.
Now based in Palo Alto, Box.net plans to move its headquarters and primary operations to 4440 El Camino Real in Los Altos, taking over a building that once was occupied by Rambus. About a year ago, Rambus left that space when it needed to expand and shifted its head offices to Sunnyvale.
"We have seen a lot of success, especially this year," said Dylan Smith, Box.net's chief financial officer and co-founder. "That success has accelerated this year by the round of financing we raised. We are really ramping up and maximizing our opportunities."
More than a few tech companies have been expanding lately. Google, Facebook, VMware and Hewlett-Packard - a tech who's who - have disclosed or completed deals for major expansions.
In February, Box.net landed $48 million in venture capital funding, bringing its total to $80 million. The company, founded in 2005, is using the money to more than double the size of its staff, broaden its mobile platform and partner base, as well as significantly widen its international capabilities.
In January, Box.net had about 125 employees. In June, it hired its 200th employee. By the time Box.net moves to its new offices later this year, it will have at least 250 employees, Smith estimated. The Los Altos building that Box.net is renting can accommodate 600 to 700 employees.
"We expect to fill it up in just a couple of years," Smith said.
Box.net provides a Web-based platform to enable individuals, small businesses and big companies to share files and other content from anywhere.
Businesses outside the U.S. account for 15 percent of Box.net's customer base. An estimated 73 percent of the Fortune 500 have adopted the Box.net platform.
Box.net leased 97,000 square feet in Los Altos, a jump from the 27,000 square feet it has in Palo Alto. The lease was arranged through realty firm Cornish & Carey Commercial.
"The growth that Box.net is experiencing is not the norm, it has been substantial," said Ben Stern, a vice president with Cornish & Carey. "Their real estate needs have quadrupled."
The location was also a key factor. The new Box.net offices are close to a train station and other public transit.
"Being on the Caltrain line is important for growing companies to be able to recruit young talent," said Matt Winters, Cornish & Carey vice president. "They are recruiting engineers from San Jose and San Francisco."
"Companies want to be close to Caltrain or light rail to have a good shot at hiring engineers who might have four or five offers to choose from," Stern said.
And the new Los Altos office is near an array of conveniences.
"It's only four or five blocks from the San Antonio Caltrain station," Winters said. "For amenities, there are a bunch of restaurants along El Camino. There is a new mixed-use development nearby. It's a pretty nice location."