Data analytics software maker Alteryx Inc., which went public in March, has signed a deal to expand its Irvine headquarters at a rate almost matching its impressive stock growth since a $14-a-share initial public offering.
Orange County’s 19th most-valuable public firm, with a $1.6 billion market cap, recently completed a deal to expand its presence at the Park Place mixed-use campus near John Wayne Airport.
The deal expands its space there by about 29,000 square feet, a little more than a floor’s worth at a typical area high-rise office, according to brokers familiar with the deal.
Alteryx had leased 40,000 square feet at Park Place under a deal that runs through 2023, according to the company’s public filings.
The local office of CBRE Group Inc., which represents it in lease negotiations, indicated in its latest quarterly round-up of area office deals that the expansion also included new terms on the initial deal, making the latest transaction effectively a 69,362-square-foot lease.
CBRE executives representing Alteryx didn’t respond to a request for comment on the expansion, and the software company hasn’t announced terms of the revised lease in any regulatory filings.
The lease represents a nearly 75% increase in headquarters space for Alteryx, whose stock has nearly doubled since the IPO, which raised about $114 million in proceeds.
The IPO was the first and largest public offering of an OC tech firm in nearly four years.
The new space suggests a hiring spree could be imminent. Alteryx reported 140 employees in Irvine late last year, up about 13% year-over-year.
The company’s currently advertising openings for about 15 new positions in Irvine, including a director of talent acquisition, who would “recruit and hire top talent for Alteryx in a high growth environment,” its website noted last week.
The firm employs nearly 500 people overall. Its Broomfield, Colo., office—Chief Executive Dean Stoecker is a Colorado native—is actively hiring, as are Singapore and San Mateo locations.
Incipio Neighbors
The company’s existing headquarters are at 3345 Michelson Drive, one of six interconnected midrise buildings at Park Place totaling about 1.2 million square feet. Leasing there is handled by Cushman & Wakefield’s Bob Thagard and CBRE’s David Dowd.
Other large tenants at the buildings, which are run by Irvine-based LBA Realty, include Western Digital Corp., Houzz, and Ingram Micro Inc.
Mobile device accessories maker Incipio Group is the newest addition to the campus, with a new 70,000-square-foot lease about to commence at 3347 Michelson Drive.
Alteryx’ new space will also be in 3347 Michelson, according to Costar Group Inc. records.
The company’s existing offices include employee-friendly features, most notably a 1962 double pass-through Volkswagen bus in the lobby outfitted with a conference room and gas-caskets-turned-beer-taps.
Alteryx was founded in 1997 as SRC LLC and took the name of its core product in 2010, a common move in the software industry.
Customers pay a subscription fee for its analytics software to integrate data, monetize content, forecast sales, map out retail expansions, and compare sales and product placement, among other features.
McDonald’s uses it to find potential store locations, and AT&T has implemented the software for deeper insights into dropped calls and text messaging.
