Pinterest Inks 490 KSF Lease in San Francisco

88 Bluxome

Pinterest has signed on for 490,000 square feet at Alexandria Real Estate Equities’ 88 Bluxome St. in San Francisco, where it will serve as the anchor tenant for the mixed-use campus located in the SoMa neighborhood.

A joint venture of Alexandria Real Estate Equities and TMG Partners, the 1 million-square-foot office complex is now nearly 60 percent preleased. The joint venture is developing 88 Bluxome, the former site of the San Francisco Tennis Club, into a large tech office facility. Alexandria purchased the site, which includes several tennis courts and fitness facilities, in 2016. The mixed-use property is part of the city of San Francisco’s Central SoMa Plan.

The 88 Bluxome campus is set to feature a technology and life science building with retail space on the ground floor and several outdoor terraces spaces throughout the building. A community recreation center with two new swimming pools, public activity space, a child care center and an air right parcel owned by the city for the development of 90 units of affordable housing will also be included in the property.

“This transformative community-focused development represents a meaningful opportunity for us to create a new destination that will revitalize the neighborhood and stimulate innovation and job growth in SoMa while it also further enhances Alexandria’s visible pipeline of key future value-creation development projects,” said Stephen Richardson, co-chief executive officer of Alexandria Real Estate Equities, in prepared remarks.

In January, Facebook leased 800,000 square feet at developer Kylli Inc.’s Burlingame Point office campus in the San Francisco suburb of Burlingame.

Image courtesy of IwamotoScott Architecture