San Francisco Office Update: Elastra takes 16,733 square feet at 75 Broadway
July 31st, 2008 Filed Under Financial District, North Beach/ Waterfront, Tenant Activity
According to Costar, a web service that tracks tenant activity across the country, Elastra has inked a deal to take new space in San Francisco. The lease is for 40 months and 16,733 square feet. Elastra will be leaving 201 Spear Street and moving over to 75 Broadway, also known as the Golden Gate Commons.
In my opinion this is an interesting move for a San Francisco tech tenant in the sense that they are getting physically further away from the ballpark, which is ground zero today for internet based companies. Elastra is in the world of cloud computing, which is becoming increasingly popular as companies require more flexibility with their information, faster and less expensive scaling, and security fears diminish. I have no inside knowledge of this transaction, and I wonder if the move North was motivated by price, or possibly a need to start connecting with the types of companies that are traditionally located in the Financial District. 75 Broadway is a wonderful building, a great place to do business, and is located in a neighborhood I think very highly of. Perhaps the move is simply motivated by executives who want a pleasant place to go everyday? [More...]
San Francisco Development Update: 350 Mission Street Proposed, Seeks LEED Gold
July 17th, 2008 Filed Under Development Updates, Financial District, South of Market, Zoning & City Hall Issues
A significant corner in the South Financial District here in San Francisco is headed for the planning department, and the ownership group is hoping to break new ground for green development.
According to J.K. Dineen of the San Francisco Business Times, 350 Mission Street plans on seeking LEED Gold certification, and will use Styrofoam and plastic bottles in place of some of the concrete to achieve this goal. This new technology is intended to lighten and strengthen the foundation and super-structure, and it will add to the overall greening of Mission Street, which is quickly becoming the new center of downtown San Francisco with nearby developments underway. (Updated renderings here)
The most impressive part of the plan in my opinion is the effort being made to open the lobby to the outside world by raising the ceilings, creating movable glass walls on the street level, and adding mezzanine level dining. This section of Mission Street is quickly becoming a bustling center of activity for lunch time employees, and 350 Mission will add to the enjoyment of the area. Other recent and future development nearby include the Transbay Terminal, 555 Mission, 535 Mission, and the Millenium Tower. These projects will bring tenants, which will mean very busy retail opportunities and a chance for the entire atmosphere to be recreated through proper planning. [More...]
