Google has signed a 10-year lease for 166,460 square feet of space at the Rincon Center II office tower in San Francisco. The building is owned by Hudson Pacific Properties.
The lease is expected to begin in March 2018 for Google, which is increasing its presence in San Francisco and has headquarters in Mountain View.
Located on Spear Street in San Francisco’s Financial District, Rincon Center consists of two, five- and six-story Class-A office towers with marquee, ground-floor retail space. Rincon Center is one of the city’s landmark mixed-use properties, with excellent access to public transit.
“Hudson Pacific Properties is pleased to further expand its relationship with Google and support the growth of its urban campus in downtown San Francisco,” said Victor Coleman, Chairman and Chief Executive Officer of Hudson Pacific Properties. “This deal exemplifies the continued strong demand from top-tier tenants for big blocks of space in the city, as well as our team’s ability to proactively address expirations and capture the mark-to-market on rents to the benefit of our shareholders.”
The Google lease will backfill two of Hudson Pacific’s significant 2017 lease expirations: a 132,600-square-foot lease with AIG and a 22,000-square-foot lease with global law firm Dentons.
Hudson Pacific’s office portfolio in downtown San Francisco consists of six properties and 2.2 million square feet. The company is also the largest publicly-traded, institutional owner of office property in Silicon Valley, with 7.3 million square feet in that market.