March 21, 2017 Comments Off on Uber Buying into San Francisco Offices Views: 259 Bay Area, California News

Uber Buying into San Francisco Offices

Uber Technologies Inc. acquired a stake in two under-development office buildings at the Golden State Warriors’ Chase Center arena site in San Francisco. The company plans to buy roughly half of the space at the Mission Bay development, which totals 580,000 square feet, and is slated to open in 2019.

Uber and the Warriors will own equal stakes in the office buildings on Third Street, between South and 16th streets, while Alexandria Real Estate Equities is a minority partner. Uber is one of the largest employers in San Francisco, with a 923,000-square-foot footprint in the city prior to the Warriors deal.

The ride-hailing company is scaling back an office expansion into Oakland’s Uptown Station to a few hundred employees, rather than upwards of 3,000 reported in 2015. Roughly half of the 300,000-square-foot building, now under construction, is being offered for lease to other tenants.

Read more at SF Business Times

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