{"id":1004036316,"date":"2012-02-08T05:34:10","date_gmt":"2012-02-08T13:34:10","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004036316"},"modified":"2022-12-07T05:59:06","modified_gmt":"2022-12-07T13:59:06","slug":"tmg-rockwood-sign-san-francisco-technology-tenant-to-168-ksf-office-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tmg-rockwood-sign-san-francisco-technology-tenant-to-168-ksf-office-lease\/","title":{"rendered":"TMG, Rockwood Sign San Francisco Technology Tenant to 168 KSF Office Lease"},"content":{"rendered":"<p><strong>February 8, 2012<\/strong><br \/>\n<em>By Nicholas Ziegler, News Editor<\/em><br \/>\n<div id=\"attachment_1004036317\" style=\"width: 310px\" class=\"wp-caption alignright\"><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/02\/020812-San-Fran-680-Folsom-Rendering-Riverbed-Lease.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004036317\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/02\/020812-San-Fran-680-Folsom-Rendering-Riverbed-Lease.jpg\" alt=\"\" title=\"020812 - San Fran 680 Folsom Rendering Riverbed Lease\" width=\"300\" height=\"252\" class=\"size-medium wp-image-1004036317\" \/><\/a><p id=\"caption-attachment-1004036317\" class=\"wp-caption-text\">A rendering of the renovations at 680 Folsom St. <\/p><\/div><\/p>\n<p>Riverbed Technology, an IT firm in San Francisco, has just found itself a new home. Courtesy a transaction handled by TMG Partners and financial partner Rockwood Capital L.L.C., the firm just signed a 167,788-square-foot lease at 680 Folsom St. in the city\u2019s SoMa district. Riverbed, which currently sits at 199 Fremont St., will move into the second through sixth floors of the soon-to-be 522,000-square-foot, Class A space with a 10-year lease term. Jones Lang LaSalle Inc. represented the tenant in the transaction.<\/p>\n<p>The move was precipitated by both Riverbed\u2019s increase in space needs \u2013 the firm pulled in more than $550 million in 2010 revenue despite being founded as recently as 2002 \u2013 but also due to 680 Folsom\u2019s current $87 million renovation project. The modernization, which also extends to the adjacent three-story building at 50 Hawthorne St., is set to complete in 2013 and includes an increase of more than 100,000 square feet of space.<\/p>\n<p>San Francisco\u2019s mayor, Ed Lee, called the move a \u201csuccessful real estate transaction that will create jobs and drive innovation in our city.\u201d And, according to a fourth-quarter 2011 report by JLL, the tech sector is leading the way in that regard. Leasing activity exceeded 9.5 million square feet last year, and technology firms represented 35 percent of that total \u2013 with high-demand areas such as Mission Bay \/ China Basin and SoMa districts garnering the largest Class A asking rents in the city, at $56.69 and $54.00 per square foot, respectively.<\/p>\n<p>\u201cWe\u2019re making this investment to support our long-term growth and cement our commitment to the city of San Francisco, Jerry Kennelly, Riverbed\u2019s co-founder &amp; CEO, said. \u201cWe think the city is the right location to attract the best talent and provide a thriving environment for our current employees.\u201d<\/p>\n<p>\u201cHigh-tech industry growth during 2011 drove the best market performance in more than a decade,\u201d the JLL report noted. \u201cSome are raising concerns about the market trajectory and depth of high-tech based demand. Data indicate more growth ahead and another strong year in 2012, but posting numbers achieved in 2011 may prove challenging considering the lack of expansion from other industries and the amount of new supply expected to enter the market.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Riverbed Technology, an IT firm in San Francisco, has just found itself a new home with a 167,788-square-foot lease at 680 Folsom St., courtesy a transaction handled by TMG Partners and financial partner Rockwood Capital.<\/p>\n","protected":false},"author":1201,"featured_media":1004038806,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21808,21742,21747,15],"tags":[],"class_list":["post-1004036316","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-featured","category-latest","category-office","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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