Twitter to double space
January 5th, 2010 Filed Under Midmarket/ City Hall, South of Market, Tenant Activity
The San Francisco Business Times
By J.K. Dineen
January 5th, 2010
Three months after tripling its San Francisco headquarters, social media company Twitter is again expanding its SoMa offices, a 41-month lease worth more than $3 million.
Twitter has grabbed just under 32,000 square feet at 795 Folsom St., taking the entire third floor of the building, which is owned by Westcore Properties. With the new lease Twitter now has 63,222 square feet in the building — enough space to accommodate about 350 employees. Twitter now has 156 employees, with 23 openings, according to its web site. [More...]
Lease expirations to slam San Francisco
November 16th, 2009 Filed Under Development Updates, Financial District, Midmarket/ City Hall, South of Market, Tenant Activity
San Francisco Business Times
By J.K. Dineen
November 13th, 2009
A nascent recovery in San Francisco’s leasing market could be swamped by a wave of empty office space hitting the market in the next two years.
Consolidations by several large tenants — including Wells Fargo, Levi Strauss, Charles Schwab, Williams Sonoma and JP Morgan Chase - will result in the return of nearly 1 million square feet to the office market during the course of 2010, according to a forecast by Colliers International.
Wells Fargo will vacate 350,000 square feet at 155 Fifth St. in June 2010. In opting to renew at Levi’s Plaza at 1255 Battery St., Levi Strauss will shed about 200,000 square feet of its current 550,000-square-foot headquarters. William-Sonoma’s consolidation into the Icehouse on Union Street will result in about 75,000 square feet of vacant space at Mariposa Square on Florida Street and Wamu Card Services, now JP Morgan Chase, will give back about 105,000 square feet at 123 Mission St., according to Colliers. [More...]
Efforts to turn empty lots to a glass half full
September 4th, 2009 Filed Under Development Updates, Financial District, Midmarket/ City Hall, Zoning & City Hall Issues
San Francisco Chronicle
John King
September 3, 2009
Even as San Francisco’s development scene continues to languish, city officials and at least one private landowner are exploring how to fill empty sites in creative ways - including art installations and a working farm.
“If you leave a blank landscape, that’s an invitation to blight,” said Matt Jacobs of Turnberry Lansing, the owner of 45 Lansing St., a Rincon Hill lot that also fronts Harrison Street. “It’s better to do something that’s interesting and that the neighbors like.” [More...]
Duane Morris restructures, Schwab to vacate One Montgomery
March 27th, 2009 Filed Under Development Updates, Financial District, Midmarket/ City Hall, Mission Bay, South of Market, Tenant Activity, Zoning & City Hall Issues
Posts have been few and far between here at San Francisco Tenant Representation lately and I apologize for that. Fortunately I have been occupied assisting clients and as we have discussed, the market demands a great deal of attention on every transaction in this climate.
Below you will find a catchup list of events, developments, and transactions that have occurred over the past month or so. The biggest trend to pay attention to today, which has not quite shown itself in transactions yet, is the tendency right now for firms to put excess space on the sublease market… even if they only recently signed leases for this space. The best examples comes from 555 Mission, which is a beautiful new building trying hard to fill direct space. Two of the newest tenants to the project have already listed space for sublease, before ever taking occupancy of that space.
Economic Downturn Tests Sector Resilience Globe Street/ March 23rd, 2009
Duane Morris Restructures One Market Lease Costar Group/ March 11th, 2009
Law Firm Moving to 3 Embarcadero Center Costar Group/ March 11th, 2009
Architecture Firm Buys Historic San Francisco Building Costar Group/ February 25th, 2009
Bebo Co-Founders Buy Musto Plaza for $7.25 Million San Francisco Business Times/ March 20th, 2009
$30M Redevelopment for One Market Retail San Francisco Business Times/ March 13th, 2009
Federal building face-off, Giants parking lot & 110 The Embarcadero
January 21st, 2009 Filed Under Development Updates, Financial District, Midmarket/ City Hall, Mission Bay, South of Market, Zoning & City Hall Issues
The San Francisco Chronicle has two writers that cover aspects of commercial real estate either full time or part time and the paper has produced three very interesting news stories over the past week.
John King, who runs a regular column called “Place” on Tuesdays in the Chronicle, reported this week on the contrast between the newly opened (relatively speaking) federal building on Seventh and Mission and the former federal building across the street that opened in 1905. The discussion is not just about structure, but about style and cost as well. In today’s world, City leaders are cognizant of public perception regarding use of tax payer dollars, and new state financed properties are designed to be as efficient and sustainable as pricing allows. His article is worth your time as King [More...]
Post-Thanksgiving Quick Links
November 29th, 2008 Filed Under Development Updates, Financial District, Midmarket/ City Hall, South of Market, Zoning & City Hall Issues
The following links are updates to the marketplace that I have been saving for a catchup day like today. All of them have relevance to tenants here in San Francisco but typically not to the same degree our normal posts might. Enjoy!
S.F. Considers Congestion Pricing (SFGate.com)
S.F. Properties Pulled From Market (Biz Times)
Boston Properties Refinances EC4 (Costar)
Developers Pursue First & Folsom Site (Biz Times)
Supes OK Eastern Neighborhoods Plan (SFGate)
Ford Putting Muni Back on Track (Examiner)
Mid-Market gets a boost with Art Institute lease
November 14th, 2008 Filed Under Midmarket/ City Hall, Tenant Activity
The Art Institute has expanded their presence at 10 United Nations Plaza recently, and the potential effect on the neighborhood is palatable.
As reported by the Costar Group, the educational provider will be occupying over 50K sqft in the property on a 12 year lease. The influx of students will, in my opinion, change the dynamics of the neighborhood and help the potential leasing of other nearby properties. U.N. Plaza can be a mixed bag depending on what time of the day you visit, but the more people have an opportunity to enjoy some of the benefits of what is offered nearby the more likely future tenants seeking space in San Francisco will choose Mid-Market properties. As we have reported in previous posts, nearby properties undergoing redevelopment include 1035 Market, 1355 Market, and a wide variety of residential buildings. The new Federal Building is open two blocks away, and the economic gap between City Hall and the Westfield Shopping Center continues to get smaller. [More...]
New San Francisco Federal Building on 7th and Mission opens to public
October 9th, 2008 Filed Under Development Updates, Midmarket/ City Hall, Tenant Activity, Zoning & City Hall Issues
The visually controversial and environmentally friendly San Francisco federal building opened to the public this month, and the end result for a beat up neighborhood is still forthcoming.
Located between between Mission and Market on 7th Street, the property has been deemed an eyesore AND an architectural gem by various critics. Regardless of the appearance, by placing the facility in this location the City has brought 1,700 plus workers into area that desperately needs dollars spent. Retail is supposed to improve, property values are supposed to go up, crime is supposed to go down, and the entire neighborhood is supposed to be reborn. All of this is a part of a bigger effort to rehab mid-market and push out years of despair. [More...]
California Academy of Sciences Green Credentials Explained
September 27th, 2008 Filed Under Development Updates, Midmarket/ City Hall, South of Market, Tenant Activity, Yerba Buena
As we rapidly approach the opening of the California Academy of Sciences tomorrow (Saturday, September 27th), I thought it important to explain just what it is that makes this property so unique and green. We have all been paying close attention to the project of course, and San Francisco as a whole seems energized to be associated with such a ground breaking building.
The reason this reopening is important to San Francisco office tenants beyond the obvious is that the Academy has been housed at 875 Howard since 2004. That space is now going to be available for lease and the intention is to create office space. This is good news for the Soma/ RIncon Hill/ Yerba Buena submarkets, as growth is positive and these neighborhoods continue to meld into one. [More...]
San Francisco Development Update: Jessie Street Explained
September 24th, 2008 Filed Under Development Updates, Financial District, Midmarket/ City Hall, Mission Bay, Showplace Square, Zoning & City Hall Issues
John King of the San Francisco Chronicle is a fantastic writer, and today he covered a little know street that happens to be ground zero for the Transbay development we have covered extensively on this blog. Jessie Street runs in-between Market and Mission, and starts at 1st Street just across from the food court.
It has been well reported now that this area is slated for vertical growth [More...]
