Tivo re-negotiated the lease for its 127,124-square-foot headquarters it leases in the Alviso neighborhood in San Jose at 2160 and 2190 Gold Street from the Bixby Technology Center, getting a 23 percent decrease in its rent beginning next February and extending the term for an additional seven years, according to a filing the company made Monday.
The rent roll-back begins Feb. 1, 2010, when the company will begin paying $1.10 per square foot, down from the $1.42 rate it currently pays. The rent will then increase a nickel a year, reaching $1.40 in the final year.
The company is also being given a $7 per-square-foot tenant-improvement allowance.
In other news contained in the same filing, the digital video recording services firm said that Geoff Yang, a founding partner of Redpoint Venture Partners, will not stand for re-election at the company’s next shareholder meeting after 12 years of service. He sits on the board’s nominating-and-governance and technology committees.