With Equity Stake In Warriors' Office Buildings, Uber Now Has Over 2M SF Portfolio
Uber now has one of the largest office portfolios among Bay Area companies. The ride-sharing company just bought an equity stake in two under-construction office buildings near the the Warrior's Chase Center in Mission Bay, reports the San Francisco Business Times. Uber's real estate now totals over 2M SF.
Uber plans to occupy upward of half of the office space available by 2019 and has the option of taking over all of the space prior to opening. Total office space available is 580K SF. Uber and the Warriors will have equal stakes in the buildings. Alexandria Real Estate Equities also is a minority partner. Chase Center broke ground in January.
The two Third Street office buildings between South and 16th streets are close to Uber’s under-construction 435K SF office in Mission Bay at 1455 Third St. This building is expected to open mid-2018 with space for up to 4,000 workers.
While Uber is expanding in San Francisco, it may have a smaller impact in Oakland where it is building its Uptown Station office. Instead of the 2,000 to 3,000 employees expected, it may have a few hundred in this location. It is already actively marketing about half of the 300K SF. Uber also leases 190K SF at Stanford Research Center in Palo Alto.