Sunday, May 12, 2024

Death Spiral: "Google will exit prominent San Francisco waterfront office tower"

From the San Francisco Chronicle, May 7:

One Market Plaza, one of San Francisco’s most prominent office complexes, continues to see tenants exit — Autodesk, Visa and now Google.

A downtown “trophy” office complex with sweeping views of San Francisco Bay is poised to lose a major tenant — its second in the span of a year. 

Tech behemoth Google will be exiting the 300,000-square-foot office that it has occupied at One Market Plaza since 2018, once the company’s lease for the space expires next April, a spokesperson for Google confirmed Tuesday. The move follows Visa’s exit from the three-building complex, as the company relocated its employees to Mission Rock. 

Many of Google’s employees are already working outside of the giant waterfront office, in light of the company’s flexible approach to office attendance. 

As one of the city’s largest office properties and a prominent feature on its skyline, the 1.6-million-square-foot One Market Plaza complex features two high-rise towers and a 11-story office annex building known as the Landmark. 

Ryan Lamont, a spokesperson for Google, said the company will be moving out of One Market’s Spear Tower, but will continue to occupy the smaller Landmark building. He declined to comment on how long Google plans to remain in the latter. 

“As we’ve said before, we’re focused on investing in real estate efficiently to meet the current and future needs of our hybrid workforce,” Lamont said in an email to the Chronicle. “We remain committed to our long-term presence in San Francisco.”....

....MUCH MORE

Uh huh. committed.