October 11, 2017
Dropbox signed a lease to take all of Kilroy Realty Corp.’s 736,000 square feet of office space at The Exchange on 16th, a $570-million, 750,000 square-foot development in San Francisco’s Mission Bay neighborhood. The four-building property is currently under construction, and consists of 736,000 square feet of creative office space and 14,000 square feet of retail space.
The deal qualifies as the largest single Class A commercial transaction ever completed in San Francisco. Dropbox will take possession in three phases, beginning in Q4 2018 through Q4 2019.
Kilroy’s John Kilroy says, “This dynamic organization and their highly skilled workforce inspires us and our design as we look to the future and anticipate the needs of today’s creative workforce. Dropbox’s expansion at The Exchange is an excellent example of the entrepreneurship and innovation that drives San Francisco’s economy, and has made the City one of the strongest commercial real estate markets in the world.”
For comments, questions or concerns, please contact Dennis Kaiser