SiliconBeat

NetSuite, the software company bankrolled by Oracle’s Larry Ellison that held its initial public offering in December, is spreading out at its current location. It agreed to lease an additional 34,000 square feet in the San Mateo building housing its headquarters, boosting its space more than 50 percent to 93,000 square feet.

It also looks to be paying dearly for the privilege, according to its filing today. The lease agreement with Equity Office Properties at 2955 Campus Drive shows NetSuite paying about $2.17 per square foot per month in 2009 for the space it originally leased there, but the rate on the additional space will cost more than twice that at about $4.65 per square foot per month.

Ellison owns nearly 32 million shares of NetSuite, or about 53.1 percent of the company. With all the real estate obligations Oracle has taken on over the last few years as it has acquired one valley software company after another, you’d think that he could have found NetSuite some cheaper expansion space, but for NetSuite, it looks like there’s no place like home.