| Roblox was the 2022 definition of a tech unicorn, as far as real estate was concerned. It wasn't about valuation or fundraising; the company behind the popular all-ages online gaming platform both promoted an in-person, in-office corporate culture and was growing. It was a rare creature: a tech firm looking for space to expand in the San Francisco Bay Area. Last week, Roblox signed a new deal for a space swap at the Bay Meadows project in San Mateo, California, adding about 100K SF after trading offices with tech firm Guidewire. This was in addition to space the firm already took at the development in March 2022, when JLL Executive Managing Directors Bart Lammersen and Hugh Scott oversaw the signing of a lease for two buildings totaling 430K SF. It was one of the larger office deals in the Bay Area and Silicon Valley last year. 
For the JLL team, the deal was a victory due in part to favorable conditions: A long-term client sought growth in a down market, so there was plenty of open Class-A space at great prices. But it also highlighted the amount of homework and extended timelines required for large office leases during the…  Read the full story here. | | |
