Photo-sharing company Pinterest has been on a perpetual hunt for new office space over the past few years and recently pinned down new homes at both 651 and 505 Brannan Street. Now, the company has filed plans to spend $18.9 million renovating its space at 651 Brannan, putting in amenities like a kitchen modeled after a food truck. The landlord at the building is putting another $4.1 million into renovations, bringing the total cost up to a hefty $23 million. That's a lot of money, even for a company that is worth billions.
Other changes that Pinterest will make to its new home include meeting areas big enough to hold all of the staff in the office, training rooms, showers, and "other features that are considered to be desirable to tech tenants in the San Francisco area." According to a listing last year for the building on 42Floors, 651 Brannan already included features like a plant-filled atrium, modern decor, and a sleek white lobby.
The renovations will cost $227 per square foot, which is well above the typical tech company's spend of $120 to $150, according to a broker cited in the Wall Street Journal. Pinterest has a seven-year lease on the space, but given the amount the company is spending to spruce it up, they may hope to stay much longer.
· Pinterest Officially Drops Design Center Bid, Pins 651 Brannan [Curbed SF]
· Pinterest Pins Down a New Home at 505 Brannan [Curbed SF]
· Pinterest to Spend $18.9 Million Renovating New Digs, Kitchen Like a Food Truck [Wall Street Journal Blogs]
· 651 Brannan [42Floors]