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.
Singapore’s Ascendas Real Estate Investment Trust, or Ascendas REIT, recently purchased two buildings in San Francisco for $572 million. Alexandria Real Estate Equities (ARE) and TMG Partners are on the other end of the move, parting with their partnered ownership of 505 Brannan Street and 510 Townsend Street in the SoMa neighborhood. This transaction follows the pair’s recent success in selling the 945 Market Street mall to Ikea. The deal marks Ascendas’ introduction to the Bay Area real estate market.