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San Francisco has seen the largest year-over-year decline in sublease space availability

Salesforce Buys San Francisco Office Building for $145M Inc. paid $145 million, or $1,975-per-square-foot, for a 73,385-square-foot office building in San Francisco. The cloud-based software company bought the property from Terminal Plaza Associates, an entity linked to environmental attorney Alex Leff.

The five-story building at 440-450 Mission St. is across the street from its headquarters in San Francisco, as well as another Salesforce-owned high-rise at 50 Fremont St.

The 1920’s-era building sits on a 15,000-square-foot lot at First and Mission streets, and was designed by Frederick Meyer. The site is zoned for a tower that could rise up to 550 feet, though Salesforce declined to comment about any possible redevelopment plans, and none have yet been filed with the city.

The acquisition boosts Salesforce’s leased or owned portfolio to nearly two million square feet in the Transbay neighborhood.

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Read more at San Francisco ChronicleConnect With Salesforce’s Marc Benioff

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition