SPUR Downtown Office Markets.pdf
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Transcript of SPUR Downtown Office Markets.pdf
Historical Asking Rental RatesSan Francisco & Oakland CBD
$0
$1
$2
$3
$4
$5
$6
$7
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
San Francisco Oakland CBD
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Tenant Current SF Industry From Address From Submarket From City Relocation Address Relocation City Date Signed18Birdies 3,454 Software/Internet 1161 Mission St West End San Francisco 505 14th St Oakland 3/8/2016Vista Equity Partners 6,348 Professional Services 4 Embarcadero Ctr Financial District San Francisco 1111 Broadway Oakland 2/2/2016Dentons 28,396 Professional Services 525 Market St Financial District South San Francisco 1999 Harrison St Oakland 10/23/2015The Sierra Club 38,766 Non-Profit 85 2nd St Financial District South San Francisco 2101 Webster St Oakland 10/1/2015Uber 400,000 Software/Internet 685 Market St Financial District South San Francisco 1945 Broadway Oakland 9/23/2015Meta Interfaces 3,998 Software/Internet 601-609 Mission St Financial District South San Francisco 1625 Clay St Oakland 8/28/20153Q Digital 3,284 Software/Internet San Francisco 2201 Broadway Oakland 8/17/2015Brown & Toland 59,514 Professional Services 135 Townsend St Ball Park San Francisco 1221 Broadway Oakland 8/10/2015CoreLogic 23,842 Professional Services 188 Embarcadero Financial District South San Francisco 555 12th St Oakland 8/10/2015Blue State Digital 2,943 Software/Internet San Francisco 414 13th St Oakland 7/24/2015California Institute for Regenerative Medicine 17,097 Government/Education 210 King St Ball Park San Francisco 1999 Harrison St Oakland 7/19/2015Jiff, Inc 5,415 Software/Internet San Francisco 1999 Harrison St Oakland 7/18/2015Fluid 16,004 Software/Internet 222 Sutter St Union Square San Francisco 1611 Telegraph Ave Oakland 7/9/2015OpTerra 18,323 Hardware/Tech 345 California St Financial District San Francisco 500 12th St Oakland 7/8/2015Net Impact 9,459 Non-Profit 150 Spear St Financial District South San Francisco 1333 Broadway Oakland 6/9/2015Cal Humanities 3,469 Non-Profit 312 Sutter St Union Square San Francisco 538 9th St Oakland 4/20/201521Tech 5,133 Software/Internet 1390 Market St Civic Center San Francisco 1330 Broadway Oakland 4/17/2015Otis McAllister 16,850 Consumer Products/Services 160 Pine St Financial District San Francisco 300 Frank Ogawa Plaza Oakland 4/6/2015Huge, Inc 6,415 Professional Services San Francisco 426 17th St Oakland 4/6/2015Pivot Learning Partners 4,263 Government/Education 731 Market St Yerba Buena San Francisco 500 12th St Oakland 4/1/201599Design 14,161 Software/Internet 447 Battery St Financial District San Francisco 2201 Broadway Oakland 3/17/2015Six Pack Fitness 3,402 General Business San Francisco 1999 Harrison St Oakland 3/16/2015MM Design Group 3,483 Non-Profit San Francisco 1759 Broadway Oakland 2/12/2015Asian & Pacific Islander American Health Forum 9,813 Non-Profit 450 Sutter St Union Square San Francisco 1 Kaiser Plaza Oakland 12/29/2014Town and Country Resources 2,228 Consumer Products/Services 1388 Sutter St Van Ness Corridor San Francisco 1333 Broadway Oakland 12/17/2014ALS 2,047 Non-Profit San Francisco 1330 Broadway Oakland 12/17/2014Ernst & Young 7,141 Professional Services San Francisco 482 9th St Oakland 12/12/2014Lennar Multifamily 3,403 Construction/Ind. Serv 645 Howard St Financial District South San Francisco 482 9th St Oakland 12/12/2014HMC Architects 3,274 Professional Services 417 Montgomery St Financial District San Francisco 2100 Franklin St Oakland 11/24/2014Precision Health Economics 3,674 Professional Services San Francisco 555 12th St Oakland 11/14/2014Evolution Bureau 9,812 Comm./Media 55 Union St North Waterfront San Francisco 1741 Telegraph Ave Oakland 11/12/2014Center for Biological Diversity 8,797 Non-Profit San Francisco 1212 Broadway Oakland 11/2/2014Gibbs Law Group 9,838 Professional Services San Francisco 1 Kaiser Plaza Oakland 11/1/2014UHA Universal Alliance 20,501 Medical/Healthcare San Francisco 1221 Broadway Oakland 10/13/2014Morgan Stanley 20,755 General Business San Francisco 1999 Harrison St Oakland 10/3/2014One Way Lease 2,333 Industrial Services 550 Montgomery St Financial District San Francisco 1000 Broadway Oakland 9/22/2014Workers' Compensation Insurance Rating Bureau 40,981 General Business San Francisco 1221 Broadway Oakland 8/22/2014Parsons Brinckerhoff 10,500 Professional Services San Francisco 1221 Broadway Oakland 8/22/2014Gensler 13,966 Professional Services 2 Harrison St Rincon Hill San Francisco 2101 Webster St Oakland 8/8/2014Coral Reef Alliance 2,596 Non-Profit 351 California St Financial District San Francisco 1330 Broadway Oakland 7/30/2014Hagen Streiff Newton & Oshiro 2,580 Professional Services San Francisco 1330 Broadway Oakland 7/1/2014King Security Services 4,850 Professional Services San Francisco 428 13th St Oakland 6/20/2014SF Bay Financial 6,809 Professional Services San Francisco 2001 Broadway Oakland 6/2/2014Davis & Associates 1,505 Professional Services San Francisco 1330 Broadway Oakland 5/28/2014Berrett Koehler Publishers 9,826 Comm./Media 235 Montgomery St Financial District San Francisco 1333 Broadway Oakland 5/7/2014Yaron & Associates 6,081 Professional Services 601 California St Financial District San Francisco 1300 Clay St Oakland 3/25/2014Saybrook University 14,500 Government/Education 450 Pacific Ave Jackson Square San Francisco 475 14th St Oakland 3/24/2014Comcate 3,388 Software/Internet 400 Montgomery St Financial District San Francisco 106 Linden St Oakland 3/24/2014Roux Associates 5,000 Professional Services 50 Fremont St Financial District South San Francisco 555 12th St Oakland 3/21/2014Embrace Networks 1,346 Software/Internet San Francisco 1440 Broadway Oakland 1/9/2014Total 921,563 50
San Francisco to East Bay Tenant Migration
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Average Asking Direct (FS):
Floors
30
29
28
27
26 1,500
25
24 0 29,299
23
22
21
20
19
18 9,095
17
16 3,314 3,298
15 5,025 8,957
14 1,906 250
13 3,870 4,474
12
11 9,480
10
9
8
7 5,700
6 19,032 2,643 1,043
5 3,609
4 16,086 22,962 2,182 8,402 0 28,303
3 5,385 2,396 4,583 23,345
2 7,500 2,164 2,843 14,453 4,332 1,464 16,799
1 886
Owner:Total RSF:Total Floors:Total Direct:Total Sublease:Total Avail RSF:Vacancy:Direct Avg Ask FS:
Building Photo
The information contained herein has been obtained from sources we deem reliable, however, we cannot guarantee it. All information should be verified prior to purchase or lease.
4.4%$4.04
Trans Pacific Centre
1000 Broadway
Sparknight
325,0006
31,8770
31,8779.8%$3.75
0.6%$4.60
267,6418,939
123,840 152,740 276,5806,775
Vacancy: 3.9% 4.8%
6,309,001Number of Projects:Total Square Footage:
183,171,705
2,164
City Center Lake Merritt Total CBD
10 8
Direct (SF):Sublease (SF):
121,676Available Space
3,137,296
145,965
$4.08
Total (SF):
$4.11
2,793
2101 Webster St
CIM Group, Inc.
2897,746
01,043
0 1,750 0
2817,638
27100
0
13.0%$4.00
97,74617,6383.4%$4.50
457,000
1333 Broadway
1333 Broadway
CIM Group, Inc.
238,394
0.0%14,453
0.8%$4.25$0.00
3,609
Center Twenty-One
2100 Franklin St
203,609
0
2101 WebsterLakeside Tower At Kaiser Cente
300 Lakeside Dr
Swig Company, SF
753,000
0
900
CIM Group, Inc.
215,000
Building Name: Wells Fargo Bank Center
1901 Harrison St
CIM Group, Inc.Address:
The Ordway Building
1 Kaiser Plaza
CIM Group, Inc.
515,070
City Square
500 12th, 499 14th & 501 14th
555 City Center Lake Merritt Plaza
1999 Harrison St
DivcoWest
480,328
California Nurses Association
204,277
Clorox Building
1221 Broadway
Westcore Properties, LLC
521,177
1111 Broadway
1111 Broadway
7.1%$4.25
505 14th St
505 14th St
Canyon Capital Realty Advisors, LLCHarvest
475 14th
475 14th St555 12th St.
1014,453
19,2020.0%
270,00017
14,1775,025
4.2%
00
Lake Merritt Tower
155 Grand Ave
$4.25
11,7529.5%$4.25
1300 Clay
1300 Clay St
Rubicon Point Partners, LLC
195,08411
18,4820
6.1%
180 Grand
180 Grand Ave
Ellis Partners LLC
277,03015
11,752240
18,48200
1330 Broadway
1330 Broadway
TMG Partners
300,0001800014,865
20
$4.00
UC Regents
569,13724000
0.0%
1214,865
172,273
$4.00 $4.248.6% 0.0%
$0.00
C B D L A K E M E R R I T T / C I T Y C E N T E R - C L A S S A | O A K L A N D | 2 0 1 6
STG Group
$4.17 $3.75
154,0683
RREEF, SF
172,00012
6,372
$0.00
490,163
0.0%35,627
35,6270
0 8,5362,164
00
7.3% 5.0%
0
0.0%$0.00 $0.00
DIRECT
SUBLEASE
OCCUPIED
PENDING
East Bay Office RequirementsHistorical Volume Tracking
Total Square Footage (Millions)
Total Requirements
0.0
0.5
1.0
1.5
2.0
2.5
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
30
40
50
60
70
80
90
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Historical Net AbsorptionOakland CBD
-800
-600
-400
-200
0
200
400
600
800
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Title
Thou
sand
s(S
F)
cushmanwakefield.com | 3/29/2016
Mike SampleDirector
Class A Market Stats | SF Compared to East Bay CLASS A
MARKET STATS S.F. COMPARED TO EAST BAY
Dublin/PleasantonBART Station
Walnut CreekBART Station
ConcordBART Station
12 St. Oakland City CenterBART Station
Embarcadero BART Station
Downtown Oakland10.7 M SF
Oakland tenants paid
35% less in rent than San Francisco tenants
Tenants on average paid
$45 psf in rent
Tenants on average paid
$70 psf in rent
Downtown San Francisco49.5 M SF
Walnut Creek4.7 M SF
Walnut Creek tenants paid
17% less in rent than Oakland tenants
Tenants on average paid
$37 psf in rent
Pleasanton8.7 M SF
Pleasanton tenants paid
55% less in rent than San Francisco tenants
Tenants on average paid
$31 psf in rent
Mike SampleDirector
New Construction Since 2008
Oakland1 Office Building
San Francisco14 Office Buildings
Mike SampleDirector
Notable San Francisco Tenants Recently Opening Operations in Oakland
Mike SampleDirector
EMERYVILLE
RICHMOND
SAN FRANCISCO
MOUNTAIN VIEW
PALO ALTO
LOS ALTOS
PLEASANTON
REDWOOD CITYMENLO PARK
SUNNY VALE
SAN CARLOS
REDWOOD SHORES
HAYWARD
FREMONT
MILPITAS
SAN MATEO
SOUTH SAN FRANCISCO
SAN BRUNO
SANTA CLARASAN JOSE
CAMPBELL
OAKLAND
UNICORNS / SAN FRANCISCO UNICORNS / BAY AREAAdyen* Kabbage* 23andMe Magic Leap*Airbnb Kabam Apttus MarkLogicAliph Kik Interactive* Avant* MedalliaAnaplan Lookout AVAST Software* MongoDB*Appdirect Lyft Bloom Energy NutanixAppDynamics MuleSoft Blue Apron* PalantirAppNexus* Nextdoor Carbon3D PivotalAutomatic Labs Okta Cloudera Proteus Digital HealthBuzzfeed* Pinterest Coupang* Shazam*Cloudera* Pivotal* Coupa Software Shopclues*Cloudflare Prosper Marketplace DJI Innovations* StemcentrxContextLogic Razer* Evernote SurveyMonkeyCredit Karma Rearden Commerce ForeScout TangoDocker Slack Hellofresh* TaniumDocuSign SoFi Houzz TheranosDropBox Spotify* Illumio Twilio*Eventbrite Sprinklr* Insidesales.com* Uber*Fanatics* Stripe Intarcia Therapeutics* UdacityFundingCircle Thumbtack Kabam* Zeta Interactive*GitHub Twilio Machine Zone ZscalerGusto UberInMobi Vox Media*Instacart WeWork*ironSource* Zenefits
CHANGING UNICORNS / SAN FRANCISCO CHANGING UNICORNS / BAY AREAIPO Acquisitions IPO Acquisitions2015 2014 2015 2016
Atlassian* BrightRoll / Yahoo Box Jasper Technologies / CiscoFitBit Twitch / Amazon GoPro 2015GoPro* 2013 Pure Storage Good / BlackBerrySquare Braintree* / PayPal 2014 2014SunRun Climate Corp. / Monsanto Hortonworks Nest Labs / Google
2014 2012 2013 Oculus VR / FacebookCastlight Instagram / Facebook FireEye WhatsApp / FacebookLending Club Meraki / Cisco Marketo Fusion-io / SanDiskNew Relic Yammer / Microsoft Nimble Storage 2013Zendesk Veeva Systems Waze / Google
2013 2012 2006Twitter Facebook YouTube / Google
2012 Palo Alto NetworksService Now WorkdaySplunk 2011Yelp Groupon*
2011 PandoraGroupon* 2010Zynga Tesla Motors
*Satellite locations
Of the 153 current Unicorn companies worldwide, 82 have offices in the Bay Area (54%), including 46 in San Francisco (30%)
Of the 56 Unicorn companies headquartered in the Bay Area,
33 are headquartered in San Francisco (59%)
S A N F R A N C I S C O B A Y A R E A U N I C O R N S
02/16
San Francisco & Bay Area Unicorns
Mike SampleDirector
SF Tenant Demand Exceeding 75,000 SF
UCSF300,000 SF
Castlight100,000 SF
Lyft150,000 SF
WeWork127,000 SF
Okta120,000 SF
Not Currently in SF
Zymergen140,000 SF
Asana100,000 SF
TENANTS IN THE MARKET EXCEEDING
75,000 SF
15Size (SF) # of Tenants
75,000+ 3
100,000+ 10
250,000+ 2
500,000+ 0
Pending
Earnest80,000 SF
Google300,000 SF
Pivotal130,000 SF
Dentsu Aegis
100,000 SF
Slack150,000 SF
Ubisoft 75,000 SF
UBS 90,000 SF
Publicis100,000 SF
Mike SampleDirector
Historical Tenant Demand in San Francisco
Historical Tenant Demand (SF in Millions)
6.4
5.5 5.7
6.96.4
5.7 5.76.3 6.0 6.0 6.2 6.0 5.7 5.8 5.8
5.1 5.15.5 5.3
6.16.7
6.35.8 5.9 5.9
6.3 6.3 6.2
3.0
4.0
5.0
6.0
7.0
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14
Oct-14
Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Monthly Demand 2-Month Moving Average
