Early-stage AI startups are imbuing new life into San Francisco’s Northern Waterfront, after years of “for lease” indicators dotting the post-pandemic panorama. In accordance with the San Francisco Enterprise Occasions, 5 AI-focused firms — 4 backed by Y Combinator — just lately leased 23,900 sq. toes on the Waterfront Plaza complicated. That is a part of a citywide development: AI companies are one of many few sectors increasing in San Francisco, accounting for 1.6 million sq. toes leased final yr and now occupying 5 million whole. (Unsurprisingly, OpenAI accounts for a large chunk of that total determine.)
Actual property companies agency CBRE tasks that these scrappy startups might attain 21 million in sq. toes inside 5 years, probably halving the town’s present 35.8% emptiness price and creating tens of 1000’s of jobs. “It might basically change the vibrancy of downtown,” CBRE analyst Colin Yasukochi tells the outlet. Waterfront Plaza is a five-building campus totaling 442,000 sq. toes; amongst its previous tenants is WeWork.
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