Swinerton In the News

Swinerton Builders: February 04, 2014

Dropbox takes all of Kilroy's new SoMa development

Cloud storage firm Dropbox has preleased all of 333 Brannan St., a 182,000 square foot development that Kilroy Realty Trust is building in the historic South Park neighborhood.

Cloud storage firm Dropbox has preleased all of 333 Brannan St., a 182,000 square foot development that Kilroy Realty Trust is building in the historic South Park neighborhood.

The marks the second time that Kilroy has leased 100 percent of an office building before construction crews even started digging. Kilroy leased 350 Mission St. to Salesforce. That project is under construction.

Dropbox also recently doubled its footprint at China Basin, where it now has about 200,000 square feet. In expanding at 333 Brannan St. and at 185 Berry St., the company is following in the footsteps of Twitter and Salesforce, both of which have aggressive in cobbling together urban campuses.

The real estate investment trust, which since 2010 has pumped more than $2 billion into San Francisco real estate, held the ceremonial groundbreaking Dec. 19 for the $95 million, 170,000-square-foot development in the heart of the South of Market district. The brick and concrete building will replace a surface parking lot which Mayor Ed Lee said was notable primarily as the traditional home to the San Francisco Fire Department’s annual chili cook-off.

The LEED Platinum project is being designed by David Johnson of William McDonough + Partners and built by Swinerton. It will use 26 percent less energy and 45 percent less water than similarly sized office buildings in the city, according to Kilroy CEO John Kilroy. At the December groundbreaking, Johnson said his group started “humbly” with a study of the neighborhood’s historic brick buildings and low-slung warehouses.

Johnson said the design team sought “materials and systems that are going to promote human and ecological health down to the molecule.” The project will use brick pavers made by a special new process, he said.

CBRE facilitated the 12-year lease, led by Tim Kazul, Luke Ogelsby and Laurence Morgan representing the tenant and Phil Tippett, Cori English and Sherman Chan representing the landlord.

“We are pleased to add another world class, dynamic technology leader to our portfolio,” said John Kilroy, Jr., the company’s chairman, president and chief executive officer. “The relationship we have built with Dropbox further demonstrates the success we’ve achieved in delivering the types of facilities and work environments that tenants want, which has created a virtuous cycle that continues to create additional opportunities for us.”

To read entire article, click on link below:

http://www.bizjournals.com/sanfrancisco/blog/real-estate/2014/02/dropbox-kilroy-realty-trust-333-brannan.html?ana=e_sfbt_bn&page=all