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
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