Deloitte nears big lease in San Francisco
April 9th, 2010 Filed Under Development Updates, Financial District, South of Market, Tenant Activity
San Francisco Business Times
By J.K. Dineen
April 9th, 2010
Consulting giant Deloitte & Touche has signed a preliminary agreement to lease 180,000 square feet at Tishman Speyer’s 555 Mission St., a deal that would fill up most of the remaining empty space in San Francisco’s newest office tower.
Under the 15-year agreement Deloitte would occupy 10 floors throughout the middle and upper levels of the building. Landlord Tishman Speyer would pony up most of a $12 million cash “kill fee” Deloitte must pay to terminate its existing lease [More...]
Activision Finds 4 to Sublease S.F. Office Space
April 8th, 2010 Filed Under South of Market, Tenant Activity
The CoStar Group
By Alexis Van Noy
April 6th, 2010
BrightTALK, a webcasting company, signed a 7,500-square-foot sublease on the second floor.
Practice Fusion, a free, web-based electronic health record system, inked a 7,500-square-foot deal on the first floor. [More...]
The 222 Second Street Scoop
February 16th, 2010 Filed Under Development Updates, South of Market, Zoning & City Hall Issues
Socketsite
February 16th, 2010
While truly plugged-in people have known about the proposed development of 222 Second Street on the corner of Howard for well over two years, details for the proposed 26-story development are now online via a Draft Environmental Impact Report (EIR).
As proposed, the project would be a rectilinear tower of diminishing bulk from the building base to a height of approximately 350 feet. At the fifth floor, the north façade of the building would be set back 5 feet from Howard Street and the west façade would be set back approximately 20 feet from the westerly property line. At the 17th story, the east façade would be set back 24.5 feet from Second Street, and the South façade would be set back 44.5 feet from Tehama Street. In addition, the fifth floor would include a further 5-foot recess, or “reveal,” on all four facades, [More...]
Yelp Expands Office Space at 706 Mission
February 16th, 2010 Filed Under South of Market, Tenant Activity, Yerba Buena
The CoStar Group
By Dan Bates
February 16th, 2010
49 Stevenson sells for $24.2 million
January 11th, 2010 Filed Under Development Updates, South of Market
San Francisco Business Times
By J.K. Dineen
January 11th, 2010
Taiwanese real estate investor Steven Pan has finalized the purchase of 49 Stevenson St. for $24.2 million, the latest sign that San Francisco’s long-dormant investment market is starting to come to life.
The $190-a-square-foot sale price represents a 40 percent decline for the value of the property, which the city currently assesses at $41 million. The seller was Invesco.
The sale price would be consistent with the other two similar second-tier downtown buildings that have sold in the last six months. In November the Shorenstein [More...]
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...]
Babcock & Brown Aircraft Subleases 28,730 SF
December 4th, 2009 Filed Under Financial District, South of Market, Tenant Activity
The CoStar Group
By Ryan Munneke
November 30th, 2009
Babcock & Brown Aircraft Management LLC subleased 28,730 square feet at 525 Market St. in San Francisco.
The commercial jet fleet management company will move in before the end of the year. Babcock subleased the Oracle space for $17 per square foot with two months free through October 2011.
Knickerbocker Properties Inc. XXI owns the First Market Tower, a 39-story, 1.08 million-square-foot office building at 525 Market St.
Towering plan for new S.F. skyline unveiled
November 19th, 2009 Filed Under Development Updates, Financial District, South of Market, Zoning & City Hall Issues
San Francisco Chronicle
By John King & John Cote’
November 19th, 2009
The recession hasn’t stopped San Francisco’s city planners from thinking big.
The Planning Department released an ambitious set of proposals Thursday to turn the blocks around the Transbay Terminal into a commercial and transportation centerpiece of the region over the next two decades.
The 145-acre “Transit Center District” would redraw San Francisco’s skyline with a half-dozen towers taller than almost any in the city, including one stretching at least 100 feet higher [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...]
Transbay funds delay may have $100M price tag
October 9th, 2009 Filed Under Development Updates, Financial District, South of Market
San Francisco Examiner
By Will Reisman
October 9th, 2009
An unexpected delay in funding for the new Transbay Terminal could set construction plans back months and cost the project another $100 million.
The transformation of the existing Transbay Terminal, a 70-year-old building on Mission and First streets, into a modern regional transit hub is expected to provide 45,000 jobs.
Earlier this year, the Transbay Joint Powers Authority — the agency in charge of the ambitious renovation project — applied for $400 million in federal stimulus funds, a revenue stream it originally expected to be released this month. [More...]
