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100 First St, San Francisco...

Updated Oct 29, 2024

Hive AI Upgrades To 57,117 SF Headquarters At 100 First St. In San Francisco
LEASEDOffice

Hive AI Upgrades To 57,117 SF Headquarters At 100 First St. In San Francisco

100 First St, San Francisco, CA 94105

$30

$30/SF

Building Size

57,117 SF

Asset Type

Office

Closing

Aug 10, 2023

About this deal

AI

Hive AI, a San Francisco-based company, has upgraded to a larger headquarters at 100 First Street. The new office space spans a total of 57,117 square feet, a significant increase from their previous location on 575 Market St, which occupied only 20,000 square feet. This move comes at a time when the market is contracting, making it noteworthy and establishing pricing expectations for sublet spaces compared to direct deals.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: N/A
  • Address: 100 First Street
  • Market: San Francisco
  • Tenant: Hive AI
  • Broker: James Walker - Kidder Mathews
  • Asking Rent: $30 per square foot
  • Lease Terms: 5.25-year

Hive AI's decision to upgrade their headquarters indicates their growing presence and the need for more space to accommodate their operations. The deal was facilitated by James Walker of Kidder Mathews, who represented Hive AI in this transaction.

Players

James Walker

Kidder Mathews

Broker

1 deal

Broker

San Francisco Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Deal FAQ

About $30 per square foot on a published $30 for 57,117 square feet (2023).

Visit Kidder Mathews to view all their deals.

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

528766.67%

Cash-on-Cash

-151123.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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