Tech Company Agrees to Lease All 182,000 SF at 333 Brannan St.
Dropbox, the fast-growing cloud storage and data-syncing company, expanded again this week, inking a 12-year lease to take all 182,000 square feet planned in a new building Kilroy Realty Corp. is building at 333 Brannan St. in San Francisco's South of Market submarket. The tech company will occupy the entire six-story office building following its expected completion in summer 2015.
The new building is just a few blocks from its current location at 185 Berry Street, the massive China Basin office property next to AT&T Park that Dropbox shares with CoStar Group. The tech company leases approximately 200,000 square feet at 185 Berry.
The full-building lease comes less than two months after Kilroy formally started construction on the building, which has been designed by David Johnson of William McDonough + Partners to meet LEED Platinum specifications. Planned features for the property include onsite power-generation, full outside air capability, a large roof-top garden and deck, and a rainwater reclamation system.
For Kilroy, the deal with Dropbox is its second full-building lease with a tech firm in San Francisco after signing salesforce.com to lease 350 Mission St.
, a 30-story office tower also under construction.
The latest office deal adds Dropbox to the list of big-name tech firms, such as salesforce.com, Twitter and Square, that have chosen to locate in San Francisco, further fueling the competition with Silicon Valley for tech jobs.
Tim Kazul, Luke Ogelsby and Laurence Morgan of CBRE represented Dropbox. Phil Tippett, Cori English and Sherman Chan, also of CBRE, represented Kilroy Realty Corp.