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680 Folsom Street

BXP Signs Over 200,000 Square Feet Of Leases With Dropbox Decagon And Swinerton In San Francisco
LEASEDOffice

BXP Signs Over 200,000 Square Feet Of Leases With Dropbox Decagon And Swinerton In San Francisco

680 Folsom Street & 50 Hawthorne Street

Building Size

400,000 SF

Asset Type

Office

Closing

Apr 15, 2026

AI

The transaction involves a lease agreement for office space located at 680 Folsom Street and 50 Hawthorne Street in the San Francisco market, comprising a total of 200,000 square feet. The property is situated in San Francisco’s South Financial District and reflects the region's ongoing demand for upgraded and transit-oriented office spaces.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 680 Folsom Street & 50 Hawthorne Street
  • Market: San Francisco
  • Landlord: BXP
  • Tenants: Drew Houston - Dropbox, Jesse Zhang - Decagon, David Callis - Swinerton Builders

BXP has successfully signed over 200,000 square feet of leases at these two properties, achieving full occupancy at 50 Hawthorne and significant leasing achievements at 680 Folsom. This lease reflects the trend of tech and AI firms seeking quality office spaces in the area.

Players

B
BXPLandlord

Drew Houston

Dropbox

Tenant

2 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