Reit san francisco

The properties are newly completed in and are fully leased to two high quality technology tenants, Stripe and Pinterest, for a long WALE of 9. We are really excited with this acquisition. Well located in the tech city of San Francisco, and within SoMa, a top-performing submarket The Proposed Acquisition comprises two office properties strategically located in San Francisco, the epicentre of technology ecosystem and a leading life sciences cluster.

Google, Facebook, FibroGen and Vir Biotechnology are some of the renowned companies which have established their headquarters or regional offices in San Francisco, driven by the availability of a highly skilled and educated workforce, high standard of living, and excellent transportation infrastructure.

Average rental rate has grown 4. The property at Townsend Street is fully leased to Stripe, Inc. Stripe , a private global technology company that builds and licenses online payment infrastructure. They are the third most valuable startup in the US, and recognised as a leader amongst merchant providers. Their customers include Salesforce, Amazon, Google and Shopify, amongst others. Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.

Part of approximately 3. Search categories. Companies: Company name. You Might Also Like What's a REIT? Get Daily Real Estate News. Technology is driving economic growth and that is driving investor interest in the gateway cities, and San Francisco is obviously a leader. Real estate investment trusts such as AvalonBay, flush with cash and already active in San Francisco, have doubled down. Those five REITs have 17 projects under construction in the Bay Area, representing 5, units, or 34 percent of all housing under construction.

Only AvalonBay was building here before the current real estate cycle. Load Error. Operating results in the quarter were challenging and widely varying. Our suburban portfolio continues to fare relatively well with occupancy similar to last year, rates down only modestly and recovery under way in some markets.

Tough days still ahead Parrell wasn't overly optimistic about the near term. It might get worse before it gets better Occupancy levels and rental rates are under pressure in urban core areas because renters are taking advantage of their ability to work remotely by moving to lower-cost suburban regions. Microsoft and partners may be compensated if you purchase something through recommended links in this article.

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