Category: San Francisco
TikTok Talks to Meta About Office Sublease in San Francisco – The Real Deal
The politically embattled TikTok may take up new offices in San Francisco leased by its competitor, Meta. The social media firm owned by Beijing-based Bytedance is in talks to sublease three floors of offices at 181 Fremont Street, in SoMa’s Transbay District, the San Francisco Chronicle reported, citing unidentified real estate sources. The deal isn’t inked, but talks continue. The 57-story tower has 435,000 square feet of mostly empty offices across 34 floors, topped by luxury condominiums. Meta leased the offices after the $500 million building was completed in 2018,…
Read More
Will San Francisco’s Conversion Incentive Work? – Globe St.
It took nearly a week to certify the results, but San Francisco voters have narrowly approved a ballot measure creating a new incentive aiming to spur conversions of empty office buildings to housing. The measure, known as Proposition C, exempts property from real estate transfer taxes, ranging from 0.5% to 6%, the first time a commercial property is sold for conversion to residential use. The exemption applies to projects that receive final approval before Jan. 1, 2030.
Read More