General Catalyst Leases 70000 Square Feet Office At Pier 70 San Francisco From Brookfield Properties
1070 Maryland Street
Building Size
70,000 SF
Asset Type
Office
Closing
Jan 26, 2026
AI
The property asset involved in this transaction is a 70,000-square-foot office space located at 1070 Maryland Street in the San Francisco market. This asset is part of a $3.5 billion waterfront redevelopment project that aims to revitalize the area.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 1070 Maryland Street
- Market: San Francisco
- Landlord: Brian Kingston - Brookfield Properties
- Tenant: Hemant Taneja - General Catalyst
Hemant Taneja of General Catalyst signed the lease for the office space, creating significant momentum for Brookfield Properties after facing challenges in the West Coast development environment. This lease reflects a recommitment to large-scale waterfront office spaces by tenants.
Players
San Francisco Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93