Kilroy Realty Inks Another Large San Francisco Lease
Kilroy Realty Corp. signed a 10-year lease with tech firm Okta for 207K SF at 100 First St. in San Francisco. This lease is the fourth-largest lease in San Francisco after leases from Dropbox, Facebook and Airbnb.
Okta is expanding its footprint in San Francisco after its April initial public offering and anticipated growth plans. The company plans to establish its new corporate headquarters at 100 First St. Occupancy will be done in phases beginning in the second quarter.
“Growth companies in San Francisco are looking for unique spaces that energize and motivate their employees and are also highly efficient,” JLL International Director Chris Roeder said.
Over the last 12 months, Kilroy Realty has signed 1.3M SF in office leases in San Francisco, including the city’s largest-ever lease of 736K SF to Dropbox at The Exchange at 16th. The company also has signed 320K SF at 100 Hooper to Adobe. Year-to-date, Kilroy Realty has signed more than 2.5M SF through its stabilized and development portfolios.
The 27-story, 467K SF building at 100 First St. was designed by Skidmore, Owings and Merrill built in 1988. The LEED Gold and Energy Star certified property is 95% leased. Okta’s new 207K SF lease will more than replace Delta Dental’s 188K SF lease that expires in the second quarter.
