Splunk In, Pinterest Out On Brannan
Sources tell us 270 Brannan is going to get filled up by Splunk (and they just got new shoes), knocking Pinterest out of the running for the 189k SF building coming to SoMa.
It appears Splunk is the front runner for 270 Brannan and Pinterest is no longer a contender at SKS' new building, industry sources tell us. The data giant, led by some big wigs from Disney and HP, is HQ'd nearby at 250 Brannan. The seven-story, 65-foot building designed by Pfau Long Architecture will have lots of bike parking and a central glass roof atrium. (Rendering, above.) Dropbox is also landing on the street, having inked a two-building deal for 333 and 345 this year.
With 270 called for, now where's the DIY-friendly social media hub headed? (We like to imagine it's a magical land where there are artisan cupcakes and obscure, but tasteful curtains everywhere.) We reported in December about it needing 200k SF fast this year. The company's 140-plus employees work out of a SoMa warehouse complex at 7th and Brannan—the "Pinstitute," as they call it. Sources tell us Pinterest is now going for a "band-aid" approach, looking for just 60k SF to 80k SF for a short-term lease. It raised $225M last fall and plans to cash in big on a promoted pins model.
