Updated Mar 29, 2026
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
About this deal
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.
On the Map
Office
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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