Explore Office Spaces in San Francisco
The development at 201 Third Street boasts 311,545 sqft of high-quality Californian office space and is now officially owned by the real estate investment trust Kilroy Realty.
Kilroy already acquired five other office space buildings on America’s West Coast this year and prior to its latest spending spree. It is also in negotiations to purchase a further three properties in the region.
The investment trust has now spent a total of $516 million on buying office space developments on the West Coast during 2011 alone, with the associated deals adding more than 1.5 million sqft of office space to its total.
San Francisco is among the primary areas of focus for Kilroy’s ownership and management of commercial properties, with Los Angeles, Seattle and Orange County being the others. The business now boasts a portfolio of rentable office space covering some 11.5 million sq ft.
“With its prime SOMA location, adjacency to the Moscone Center, proximity to Caltrain… and the new Transbay Transit Center and larger floor plates, 201 Third Street is a great fit for the technology and media tenants who see San Francisco as an ideal business location,” said Mike Sanford, Kilroy Realty vice president.
One media organisation that managed to take care of its office space requirements in California recently is the famous Sundance Institute, which was founded by Hollywood legend Robert Redford and this month signed up to occupy a new office building in Los Angeles.
The movie-development institute is to take nearly 15,000 sqft in the 31-storey tower block at 5900 Wilshire along Miracle Mile in LA.
Editor’s notes: 201 Third achieved a LEED Gold rating, achieved a WELL Health-Safety rating in 2021 and is Energy Star rated. The property offers a total of 336,927 square feet of commercial space with flexible floor plates measuring 29,000 square feet.
In the first quarter of 2023, San Franciso had the highest office space vacancy rate in the U.S. at 26.8 per cent.
The national average at the time was 20.2 per cent.