Posted Sep 30, 2017, 5:10 PM
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Registered User
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Join Date: Dec 2016
Location: San Francisco
Posts: 24,177
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Quote:
Exclusive: Two big leases could fill up another new S.F. office tower before it opens
By Roland Li – Reporter, San Francisco Business Times
Another new San Francisco office tower, the North Financial District's 350 Bush St., is close to filling up before it opens.
Software maker Atlassian Corp. Plc (NASDAQ: TEAM) is close to leasing 125,000 square feet at the tower. In a separate deal, the advertising company Publicis is close to leasing 67,000 square feet, according to two sources familiar with the property.
The deals are still pending and would account for all the remaining space in 350 Bush St., which totals 372,000 square feet. Amazon.com Inc. (NASDAQ: AMZN)'s Twitch division, which broadcasts video game video streams, leased about half of the building in 2015.
The deals would be another sign of strength for San Francisco's office market and remove its eighth-largest availability. The city has few new large blocks of space, with another disappearing after Facebook Inc.'s blockbuster 436,000-square-foot lease at Jay Paul Co.'s 181 Fremont. The 1.4 million-square-foot Salesforce Tower, the city's largest new office building, has leased or is in talks to lease about 90 percent of its space.
Two new buildings, Park Tower at 250 Howard St. and the Exchange at 1800 Owens St., have no new tenants and are set to open within the year. Oceanwide Center, which won't finish until 2021, is also seeking tenants for 1 million square feet of office space. The Shipyard also is approved for 4.3 million square feet in multiple buildings, but will take years longer to build . . . .
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https://www.bizjournals.com/sanfranc...073&j=78910791
Some folks here have expressed concern that there may not be enough demand for, for example, Oceanwide Center's office component. The BizTimes doesn't seem to share the concern.
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