Less than four months after moving into new offices along Market Street, Uber has already outgrown the sizable space and is planning what comes next. And what comes next is going to be very big. The company has partnered with Alexandria Real Estate Equities to develop two parcels along Third Street in Mission Bay into 422,980 square feet of office space. They will be adjacent to the forthcoming Golden State Warriors arena and were once owned by Salesforce, which is selling off its Mission Bay property to focus on the Salesforce Tower.
Alexandria usually develops science and technology campuses, but already has a strong presence in Mission Bay and saw the Uber deal as a natural next step in its plans to integrate Mission Bay with the tech innovation happening in SoMa. Uber is ready to invest in the site as its long-term home and will sign a 15-year lease. The company will also own 49 percent percent of the property, with Alexandria owning the remaining 51 percent. The campus's arrival time is too far out to estimate yet, but we do wonder how Uber will rate itself.
· Alexandria Real Estate Equities and Uber Technologies Enter Joint Venture Agreement to Acquire and Develop Key Parcels in Mission Bay [Alexandria Real Estate Equities]
· Warriors Unveil Plans For Massive Arena at Mission Bay [Curbed SF]
· An Overview of Salesforce's Historic San Francisco Lease [Curbed SF]
· Uber Anxiety [NY Mag]