Retail giant Amazon renewed its lease for 300K SF of office space at 525 Market St. in San Francisco, a month after shuttering its artificial intelligence lab in the city.
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Amazon’s multiyear lease at the 38-story Financial District office tower includes an option for an additional 30K SF, the San Francisco Chronicle reported. Amazon also leases office space at 660 Third St. and 188 Spear St., though its lease on Spear is due to expire in early 2027, and Amazon confirmed earlier this year it would be vacating 130K SF of space there.
Amazon inked its lease at the Spear Street building in 2012. Its departure will leave more than half of the 12-story building owned by Shorenstein Properties vacant. In July, Amazon announced that it would shutter the AI lab it opened in 2024 as part of a broader company reorganization, the Chronicle reported. The company’s AGI SF Lab was focused on developing general AI intelligence agents that could mirror human capabilities. The site had employed about 80 people at its peak.
Amazon still occupied about 741K SF of office space in the city at the start of the second quarter, making it San Francisco’s seventh-largest office tenant, the Chronicle reported. Amazon is also building out a robotics team in the city and is expected to lease an additional 250K SF of space at 650 Townsend St. in Showplace Square, a space that formerly served as the corporate headquarters for social and mobile gaming developer Zynga.
Amazon has yet to officially announce the Showplace Square deal with property owner Beacon Capital Partners or the growth of its Amazon Robotics division, though it’s trying to fill 26 open positions for its San Francisco robotics division.
“San Francisco is an innovation hub and we’re proud to have teams that support our robotics, AI, and tech innovation based in the city,” Amazon spokesperson Austin Stowe told the Chronicle in late June.
The Seattle-based e-commerce titan also has plans to develop a new 710K SF parcel delivery facility at 900 Seventh St. The site was formerly an operational base for Recology waste management services and housed that company’s fleet of heavy-duty garbage collection trucks.
Amazon’s proposal includes scraping the site to construct the new parcel distribution facility, which would have 18K SF of office space and 510 parking spaces on the roof of the building.
Amazon acquired the 6-acre site in 2020 for $202M. Construction on the 18-month build-out is expected to begin in 2028.
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