Updated Oct 16, 2025
Elon Musk's Neuralink Leases 144000 Square Foot Office In South San Francisco
499 Forbes Boulevard
Building Size
144,000 SF
Asset Type
Office
Closing
Oct 14, 2025
About this deal
AI
Neuralink has leased an office building consisting of 144,000 square feet located at 499 Forbes Boulevard in South San Francisco. The property, previously occupied by InterVenn Biosciences, has been vacant since 2023 and is situated within a key life sciences hub of the city, close to Genentech's significant campus redevelopment project valued at $5 billion.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 499 Forbes Boulevard
- Market: South San Francisco
- Tenant: Elon Musk - Neuralink
- Size: 144,000 square feet
Elon Musk, through Neuralink, is expanding his company's presence in the Bay Area, reflecting the ongoing growth of his tech ventures. This strategic location allows Neuralink to benefit from proximity to other significant developments in the life sciences sector.
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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