This Week's Bay Area Deal Sheet
X Corp., formerly known as Twitter, plans to market for sublease roughly 800K SF of office space in Mid-Market. The social media company has been in the neighborhood for 13 years.
The San Francisco Chronicle reported Thursday that X plans to put 460K SF of office space at 1355 Market St. up for sublease as well as the attached 1 Tenth St. property.
The almost 100-year-old Art Deco building served as the headquarters for X. The fate of the company in Mid Market, and San Francisco, remains unclear.
Shorenstein Properties owns 1355 Market St.
LEASES
Sierra, an AI startup co-founded by former Salesforce co-CEO Bret Taylor and Google Labs’ former head Clay Bavor, leased 41K SF at 235 Second St. in SoMa, according to the San Francisco Business Times.
Sierra has outgrown its current HQ office a few doors down at 215 Second St., a four-story, 16K office space, the Business Times reported.
FINANCING
The Federal Home Loan Bank of San Francisco has provided $61.8M to fund 59 projects that will create nearly 4,000 units of affordable housing in Arizona, California and Nevada.
PERSONNEL
Kristin Molano has been appointed Senior Vice President of EQ Office. In this San Francisco-based role, Molano will oversee EQ’s Northern California portfolio in San Francisco, Silicon Valley and San Jose, helping shape strategy in the region. Molano brings over 12 years of commercial real estate expertise to this position.
