Google has leased a whole building in SoMa, San Francisco, to serve as the new offices for the company’s cloud computing division. Reporting from Laura Waxmann in the San Francisco Business Times shows that the Alphabet-owned company is expected to occupy the 300,000 square-foot building at 510 Townsend Street. The lease was signed on June 30th.
The building was the former headquarters of Stripe and has been on the market for sublease since October 2020. The property was sold in November of 2020 by Alexandria Real Estate Equities and TMG Partners. The transaction included 510 Townsend and 505 Brannan Street, costing around $572 million.
The buyer and current owner is Ascendas Real Estate Investment Trust, a subsidiary of Singapore investor Capitaland. Capitaland is one of Asia’s largest real estate companies and is itself a subsidiary of a Singaporean state holding company owned by the city-state’s government, Temasek Holdings.
The 85-foot tall structure was designed by San Francisco-based STUDIOS Architecture. The brick exterior with gridded floor-to-ceiling windows reflects the area’s industrial character. The neighborhood is dominated by low-slung industrial warehouses, a variety of retail and restaurants, and new development. The nearest proposals covered by YIMBY to the site include 610-698 Brannan Street and 600 7th Street. The latter project is expected to break ground later this summer.
The Caltrain San Francisco station is less than ten minutes away on foot, connecting the building with the rest of the Peninsula.
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