Early-stage AI startups are imbuing new life into San Francisco’s Northern Waterfront, after years of “for lease” indicators dotting the post-pandemic panorama. In line with the San Francisco Enterprise Occasions, 5 AI-focused firms — 4 backed by Y Combinator — lately leased 23,900 sq. ft on the Waterfront Plaza complicated. That is a part of a citywide pattern: AI corporations are one of many few sectors increasing in San Francisco, accounting for 1.6 million sq. ft leased final yr and now occupying 5 million whole, per the actual property providers agency CBRE. (Unsurprisingly, OpenAI accounts for a sizable chunk of that general determine.)
If CBRE’s projections are to be believed, there’s rather more to come back. It thinks these scrappy startups may attain 21 million in sq. ft inside 5 years, doubtlessly halving town’s present 35.8% emptiness fee and creating tens of 1000’s of jobs. “It may basically change the vibrancy of downtown,” CBRE analyst Colin Yasukochi tells the outlet.
Waterfront Plaza is a five-building campus totaling 442,000 sq. ft whose tenant combine tends to shift with financial tendencies. Amongst its previous tenants is WeWork.
