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03.24.2017

100 Hooper's Adobe Lease Wins SFBT Deal of the Year Award

Kilroy Realty's lease to Adobe Systems at 100 Hooper Street recently won a San Francisco Business Times Real Estate Deal of the Year Award. 

Adobe originally secured 207,000 square feet of office space at 100 Hooper St., making it the largest lease signed for new construction in San Francisco in 2016. With the deal in hand, Kilroy kicked off construction on the $270 million project that will have a total of 400,000 square feet of space in the red-hot SoMa district.

In February, Adobe signed on for another 107,000 square feet of space, making the tech giant the single office occupier of the project's 314,000 square feet of office space. (It also has 86,000 square feet of light industrial space). The LEED Platinum buildings will offer bike parking, showers and lockers.

For Adobe, the move is an example of its commitment to growth in the Bay Area "for continued access to highly skilled diverse talent in a very tight market," said Scott Ekman, director of real estate strategy and planning for Adobe. Adobe's current office at 601 Townsend is located just blocks from 100 Hooper. "There were a couple of other options in close proximity to our existing office, but none that offered the quality and fit for Adobe as 100 Hooper," Ekman said.

Adobe plans to begin the moving in to Hooper in the second half of 2018, with space for about 1,500 employees eventually.

Because mixing office and light industrial tenants together in one project is not very common, Kilroy had to convince Adobe that the mix would enhance the site, said Rob Paratte, Kilroy's head of leasing and business development. Possible light industrial tenants include coffee roasters, breweries, and artisanal commissary kitchens. "We went after them to get them to understand the value proposition here," he added. "It paid off."

The design includes multiple roof decks and a plaza off the ground floor. "These are hallmarks of our firm," Paratte said, "to put thought and time into the space that people actually occupy." Kilroy also put thought into the outdoor environment and amenities. Paratte added that the goal was to make 100 Hooper an attractive place to spend time during and after work hours.

Adobe saw the value in the buildings amenities, said Rick Buziak, Kilroy's senior vice president of asset management. "For Adobe to take this long-term commitment to the city in the form of expansion space is a really great story," Buziak said.

via San Francisco Business Times