Elon Musk's XAI Corp Leases Office Space At 3180 18th Street In San Francisco
3180 18th Street
Building Size
37,000 SF
Asset Type
Office
Closing
Oct 2, 2024
AI
The asset involved in this lease transaction is an office space located at 3180 18th Street in the Mission District of San Francisco. The total square footage of the office is 37,000 square feet. The property is situated in a market known for its dynamic business environment defined by tech companies and startups.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 3180 18th Street
- Market: San Francisco
- Tenant: Elon Musk - xAI Corp
Elon Musk's artificial intelligence company, xAI Corp, has taken occupancy of the office space, which was previously subleased to OpenAI. Musk announced the opening of the office at a networking event and noted that the xAI team has re-furnished the space. However, the building remains listed for sublease as of Wednesday.
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