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Pinterest inks huge lease in SoMa at proposed 1 million-square-foot office campus
By Fiona Kelliher – Real estate reporter, San Francisco Business Times
Mar 20, 2019, 10:12am PDT Updated a day ago

Social media website Pinterest Inc. has signed a 490,000-square-foot lease in a proposed office complex in Central SoMa as the company's potential IPO edges closer.

The deal is the biggest commercial lease so far this year, and the biggest in San Francisco since Facebook signed a 755,900-square-foot lease in May for the entirety of Park Tower. It's the second time in recent months that a major tech company has signed a lease for a building that is not yet approved. Salesforce in November pre-leased 325,000 square feet at 550 Howard St., which is slated to be the last major skyscraper to rise in the Transbay district. The leases show that tech companies are so hungry for space that they are willing to do deals well ahead of construction starting on a project.

Developers Alexandria Real Estate Equities, Inc. (NYSE: ARE) and TMG Partners are developing 88 Bluxome St., which will include about 1 million square feet of office space when it's completed.

With this lease signed, Pinterest will serve as the campus' anchor tenant . . . .

https://www.bizjournals.com/sanfranc...eXJQU29NIn0%3D