3 Things Shaking Up the S.F. Market
Bisnow's got the exclusive on some major happenings causing quite the stir in the S.F. real estate scene.
1. GoPro Pulls Plug
We are hearing the camera giant's deal for 80k SF at 600 Harrison just blew up. Sources think the six-story SoMa building's age was a factor (it was built in 1989). Sources say TIs would have taken a long time (possibly six to nine months), so it's back to the drawing board for space. JLL reps the company.
2. New Brokerage Hired For Tech Titans
JLL is out and Cresa is in for two high-profile tech companies in S.F.: Twitter and FitBit (above, Tory Burch's latest design for the fitness tracker). Sources say FitBit is on the prowl for 70k SF in the city, but that number could be bigger or smaller (one broker is hearing lots of different ranges for the requirement).
3. Stripe Thins Out Requirement
Stripe's space needs have shrunk big time. The company, which helps power online and mobile payments systems for Apple, Twitter and Alibaba, is HQ'ed at 18th and Folsom (above) and had an active requirement for 300k SF just last fall. Now sources say the startup is looking for just 60k to 80k SF in the market.