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950 Tower Lane

Industrious Leases 23000 SF Office Space At Metro Center In Foster City
LEASEDOffice

Industrious Leases 23000 SF Office Space At Metro Center In Foster City

950 Tower Lane

Building Size

23,000 SF

Asset Type

Office

Closing

Mar 31, 2026

AI

The asset involved in this transaction is an office space located at 950 Tower Lane in Foster City. The property comprises a total of 23,000 square feet, designated for office use.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 950 Tower Lane
  • Market: Foster City
  • Tenant: Jamie Hodari & Justin Stewart - Industrious
  • Lease Size: 23,000 SF

Jamie Hodari and Justin Stewart represent Industrious in this lease agreement, marking its first location in Foster City and the fourth opening in the Bay Area within the past year. The space specifically targets Peninsula workers who relocated during the pandemic, highlighting the ongoing demand for coworking spaces in suburban areas.

Players

Jamie Hodari

Industrious

Tenant

11 deals

Tenant

Foster City 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