Tower Semiconductor’s Newport Beach Fab 3 lease is now due to expire during 2030. The company signed an extension in November 2025, after its previous lease term had been set to run through March 2027. The extension supports planned capacity expansion and continued full utilization at the site.
What changed in the Newport Beach fab lease?
The latest disclosed endpoint is during 2030, according to Tower Semiconductor’s 2026 SEC filing. Tower said it signed the extension in November 2025; its announcement described the arrangement as providing up to an additional 3.5 years beyond the prior 2027 term. Neither disclosure specifies an exact expiration day. Tower’s 2026 SEC filing Tower’s November 2025 announcement
The lease covers the company’s Fab 3 site in Newport Beach, including its semiconductor manufacturing facility and offices. Tower said the extension would support Fab 3 capacity expansion and plans to keep the fab at full utilization. Tower’s 2024 annual report Tower’s November 2025 announcement
How the lease term changed over time
| Disclosure | Lease endpoint stated | What it established |
|---|---|---|
| December 2010 announcement | March 2027 | TowerJazz said an amendment confirmed it could retain the Newport Beach building through March 2027. The landlord identified in the release was Uptown Newport LP, a joint venture involving a fund controlled by DRA Advisors and an affiliate of The Shopoff Group. 2010 announcement |
| Later option exercises | March 2027 | Jazz exercised its first option in 2015, extending the term from 2017 to 2022, while retaining an option covering 2022–2027. Tower’s 2024 annual report says NPB Co. exercised that latter option. Tower’s 2024 annual report |
| November 2025 extension; reported in 2026 filing | During 2030 | Tower announced up to 3.5 additional years beyond the prior 2027 term; its 2026 filing says the lease extension was signed in November 2025 and is due to expire during 2030. 2025 announcement 2026 SEC filing |
The title-era news was the 2010 confirmation of a term through 2027, not the current endpoint. In 2010, Rafi Mor, then senior vice president and general manager for Newport Beach, said the property sale by Conexant would not affect TowerJazz’s business because the lease had been extended to 2027. That was a contemporaneous management assurance about the sale, not an independent assessment or a statement about the later extension. 2010 announcement
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What Tower said about the lease economics
Tower described the 2025 extension as averaging $24 million per year over the five-year period. This is the company’s stated average associated with this lease arrangement, not a general market rent rate. Tower’s November 2025 announcement
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What is disclosed about disputes at the site?
Tower’s filings say the landlord alleged inadequate noise abatement and sought a judicial declaration that a breach was material and could not be cured. Tower says it disagrees and is disputing the allegation. Its 2026 filing also reports a disputed third-party claim concerning the site. The reviewed disclosures do not establish that either matter has been resolved or that a court has ruled on the landlord’s allegation. Tower’s 2024 annual report Tower’s 2026 SEC filing
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