“Apple Inc. reached an agreement to rent about 76,000 square feet of office space in the South of Market neighborhood’s 235 Second St., several real estate sources in San Francisco and Silicon Valley said,” Cory Weinberg reports for The San Francisco Business Times.
“This would signify Apple’s first push into San Francisco – piling onto the herd of Silicon Valley companies that have wanted a taste of the city,” Weinberg reports. “One big question mark: Which division of Apple employees could call the SoMa space home?”
“Beats Music, which Apple acquired last year, started leasing a few years ago about 26,000 square feet in San Francisco’s Dogpatch neighborhood through 2017,” Weinberg reports. “Since 2010, Silicon Valley companies have gobbled up about 2.5 million square feet in San Francisco, according to CBRE. Those companies typically add branches in the city instead of migrating entire campuses, due to urban space constraints. ‘It’s where the talent lives and wants to be,’ said Colin Yasukochi, director of research at the real estate firm CBRE. Fourteen percent of Apple’s Bay Area employees live in San Francisco, topped only by the 25 percent who live in San Jose, according to a 2013 company report. The company just leased its first big chunk of space in San Jose – 300,000 square feet – the Silicon Valley Business Journal reported earlier this month.”
Read more in the full article here.
MacDailyNews Take: Cutting down ridiculous commute times has many benefits (time, pollution, commuting expenses, etc.). For example, Jony Ive has at least an hour-long commute from San Francisco to Apple’s offices – that’s two hours trapped in a car every day for Apple’s most important employee. We’re not saying the office space is for Apple designers (they likely need to be in touch with Apple engineers, executives, etc. in Cupertino), but the time-savings is significant. Apple employees who live in San Francisco and who get to work there will be very happy.
Apple designer Jonathan Ive buys $17 million mansion in San Francisco – September 12, 2012