More Deets on Salesforce Tower
If you can't get enough of the 714k SF Salesforce deal you won't want to miss our 3rd annual Construction and Development Summit tomorrow at the Intercontinental, where one of the main men behind Salesforce Tower is a panelist. Boston Properties senior project manager of development Michael Tymoff tells us Boston is thrilled to have Salesforce as its anchor tenant, and their commitment makes the case that the tech sector is willing to invest here in S.F. in order to attract and retain the best and brightest workforce. The 61-story tower will deliver in Q1 2017, he says.
Will supply keep up with demand in S.F. and can that demand continue to grow at its current pace? Will Silicon Valley-based companies continue their northward migration? (What if they go so far north that top talent only wants to code in Alaska?) We'll find out tomorrow. The office leasing environment will continue to be highly competitive as demand from large tenants outpaces available space and the tech sector continues to expand its footprint in the city, he says.
Michael gave leasing updates at a few other properties aside from the half-full Salesforce Tower: 95% of 680 Folsom and 50 Hawthorne is leased to Riverbed Technologies, Macy’s.com and Athena Healthcare, and 25% of 535 Mission to Trulia. That tower (above) has been designed with flexibility and high density in mind in order to cater to a wide range of tenants, he tells us. Hear more at our Construction and Development Summit tomorrow at the Intercontinental.