Deal to Announce: Welcome Paragon Legal to 601 California St.!

Congrats. to another repeat client for their Downtown San Francisco office lease!  The space is amazing - they did a wonderful job with paint, carpet, and furniture.

Please contact me with your office leasing requirement as I am very active in the Financial District.

Deal to Announce: Welcome Fattext to 594 Howard Street!

I am pleased to announce a third successfully completed transaction on behalf of this client.

After trying to renew at their current location near Caltrain, we found a space at Howard Street and Second Street for OVER TEN DOLLARS PER RENTABLE SQUARE FOOT PER YEAR LESS.

The craziness is here and in full effect - having the correct broker represent you and show you well-priced spaces is more imperative now than before.

South of Market office space is available but some owners have a higher cost basis and require high rent.  Please call me to discuss.

State of the Market as of March 7, 2012 Part II

Salesforce.com has decided not to develop their Mission Bay campus which will subsequently add approximately 2 million square feet of office demand to the City.

Landlords are pushing rents up as the demand is outpacing supply.

For more specific information, please see the S.F. Business Times' article this past week regarding the tech firms gobbling up space in the City.

Also of note, Zynga moved forward with their option to purchase 650 Townsend Street which signals further concern for tenants that ample space at reasonable rates is diminishing.

State of the Market as of March 7, 2012 Part I

The commercial real estate market is becoming so hot that overbidding for space is becoming a reality in many deals.

I have a client that just signed a lease South of Market that attempted to lease space in the Financial District but did not want to be a part of a bidding war and "race to the finish" which some brokers use to get deals done.

One industrial client was also told another group was making an above-asking offer but thank goodness my client is more desirable to the ownership - we are awaiting a lease and I hope to report more in the coming weeks.

Deal to Announce: Congrats to Hamilton Family Center for their Option Extension!

I'm happy to report that my client successfully exercised their option to extend at 255 Hyde Street.  This option was part of our original negotiation and we are very glad that the owner originally agreed to this.

Congrats to all those involved!