The company is responsible for all the broadcast licensing and event planning around the Pacific 12 athletic conference that takes place on the US West Coast, and its bosses have been on the lookout for a new operational hub.
An 11-year lease has now been signed by the company on offices in the South of Market (SoMa) district, which is renowned as one of California’s leading hotbeds for technology-related business development.
“We love the vibrancy of San Francisco and believe it will be very conducive to the environment we envision,” said Pac 12 Enterprise’s president, Gary Stevenson. “As we determine how we will distribute our content, it is exciting to know we are very close to the most innovative and forward-thinking companies. We are in the ideal location. It’s very exciting.”
Pac 12’s leasehold renting deal was struck with Kilroy Realty, the owner of the relevant office building at 370 Third Street and one of the largest office owners in the entire American West Coast.
There are a number of intersecting elements to Pac 12’s business, with digital networks and broadcasting forming part of it, but large-scale administrative work needs to be done to ensure that the intellectual property rights of its sporting events are protected.
San Francisco Mayor Edwin M Lee was among those who welcomed the company to its new headquarters. He said: “Pac-12 Enterprises will not only have access to the best and brightest creative talent for their staff here, but they will also tap into the city’s innovative culture and entrepreneurial spirit.”
Kilroy Realty’s boasts around 11.6 million sqft of rentable commercial property at dozens of sites in Los Angeles, San Diego and the greater Seattle area.
Editor’s notes: As of June 2024, Pac 12 Enterprises no longer had offices in San Francisco. When its lease expired in June 2023, the company moved to a remote working model. It was reportedly paying $6.9 million in rent annually.
As of June 2024, Kilroy Realty Corporation had operations in San Diego, Greater Los Angeles, the San Francisco Bay Area, the Pacific Northwest and Austin, Texas. The company’s stabilised portfolio totalled approximately 16.2 million square feet, primarily office and life science space, and it also has more than 1,000 residential units in Hollywood and San Diego.