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350 Ellis Street

Sam Altman Of OpenAI Signs 10-Year Lease For 439,000 Square Feet At 350 And 380 Ellis Street
LEASEDOffice

Sam Altman Of OpenAI Signs 10-Year Lease For 439,000 Square Feet At 350 And 380 Ellis Street

350 Ellis Street

Building Size

450,000 SF

Asset Type

Office

Closing

Feb 26, 2026

AI

The asset involved in the context is an office property located at 350 and 380 Ellis Street, San Francisco. The total square footage of the property is approximately 439,000. The lease transaction does not specify a monetary value.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Tenant: Sam Altman - OpenAI
  • Lease Term: 10-year
  • Market: San Francisco
  • Right of first refusal to purchase the campus included in the deal

Sam Altman represents OpenAI in this lease transaction, reflecting the company's commitment to expanding its presence in the South Bay office market. The properties were previously the headquarters for Symantec.

Players

Matt Salem

KKR

Landlord

$161.5M

vol

2 deals

Landlord

Sam Altman

OpenAI

Tenant

18 deals

Tenant

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