Google will vacate a 28,000-square-foot waterfront office in San Francisco's financial district.

The Mountain View-based tech giant will come hot on Visa's heels and vacate the three-building One Market Plaza at 1 Market Street on the Embarcadero, the San Francisco Chronicle reported. The company expects to leave the building when its lease ends in April.

The 150,000-square-foot One Market Plaza features two high-rise towers with a six-story addition and an 11-story historic building called The Landmark.

Ryan Lamont, a Google spokesman, said the company will move out of One Market's 42-story Spear Tower but will continue to use the landmark building. He declined to comment on how long Google plans to stay there. Many employees are already working from home.

“As we have said before, we are focused on investing efficiently in real estate to meet the current and future needs of our hybrid workforce,” Lamont said in an email to the Chronicle. “We remain committed to our long-term presence in San Francisco.”

Google plans to consolidate much of its operations from One Market into a nearby 37,000-square-foot office building at 345 Spear Street, unnamed sources told the newspaper. The company is expected to renew its lease on that property when it expires next year.

Lamont declined to comment on a possible lease extension for 345 Spear Street.

News of Google's impending exit from One Market Plaza comes five months after New York-based Paramount Group and Blackstone provided a $975 million loan tied to the complex that was due to mature in February.

According to the Chronicle, the partners have reached an agreement to extend the loan for three years, with an option for another year, in exchange for paying off $125 million in debt. Financial details of the deal were not disclosed.

Working out such a deal would probably have been more difficult if Google had announced its withdrawal at the time, an unnamed “market participant” told the newspaper.

“This flagship property continues to generate record levels of rental demand,” an unnamed Paramount and Blackstone spokesperson told the Chronicle. “This space is leased through April 2025 and we are already in active discussions with potential new tenants. We recently extended the loan through 2028 on attractive terms.”

One Market Plaza, where rents are about 20 percent higher than other prime offices, is 92.5 percent occupied and rents are over $100 per square foot.

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Recent lease signings include Capital Research, which renewed 79,000 square feet, Citigroup, which leased 76,000 square feet, Thoma Bravo, which leased 43,000 square feet, and GIC, which signed a lease for 22,000 square feet.

Last year, Autodesk offered 73,000 square feet of the 284,000 square feet it occupies for sublease. Visa, whose lease expires in 2026, also offered its entire 162,000-square-foot headquarters ahead of moving to its new center in Mission Rock.

One Market Plaza was previously owned by Morgan Stanley and the Paramount Group. In 2014, Blackstone bought a 49 percent stake in the complex for $600 million.

— Dana Bartholomew

The post Google to Vacate 300K sf Workplace on San Francisco Waterfront appeared first on DAILY SAN FRANCISCO BAY NEWS.

What’s cuter and more enticing than an all-American classic Cape Cod home? How about five of them, all priced below $300,000?

No, that was not a typo. The beauty of the Cape Cod is that it was designed to be economically yet sturdily built. Charming and cheap—that’s a winning combination.

This seminal Americana architectural style was named after Cape Cod itself, a seaside destination along the coast of Massachusetts. The design was conceived in the 1600s to withstand harsh New England winters and keep inhabitants warm and cozy.

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The same classic features that worked back then still work well today: a steep, slanted roof to help snow melt off; a chimney in the middle of the home (to heat all the rooms); cedar shutters and shake shingles to protect against strong winds; a rectangular shape; and a straight-forward floor plan.

Although they started in New England, the homes were so practical, inexpensive, and easy to build, they popped up from coast to coast.

We found five of these nifty numbers at petite prices. Take a peek.

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Price: $235,000
Classic cutie: Seriously, does it get any more adorable than this? Originally built in 1941, this three-bedroom, 1.5-bath cottage has been meticulously maintained. Its compact, 1,212-square-foot size makes it very easy to update, should you so desire.

But new owners won’t want to touch those hardwood floors, the arched doorways, the wainscoting, or the brick fireplace with the wood surround. There’s a bedroom on the first floor and two charming upstairs bedrooms with window niches and pitched ceilings.

Bonuses include a spacious, partly finished basement, a separate two-car garage, a paverstone patio, and a grassy half-acre yard surrounded by mature trees.

Penfield, NY

Realtor.com

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Price: $250,000
Upscale updates: While this shingled beauty has all the charm of the 1940s when it was built, the kitchen and baths have been tastefully updated and the walls throughout have been recently painted.

The three-bedroom, 1.5-bath, 1,556-square-foot home overlooks the Salisbury City Park, with the Salisbury Zoo just a short stroll away. Also, it’s ideally located just about 30 miles from the Atlantic Ocean on one side and Chesapeake Bay on the other.

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This home has a large, plumbed basement, which can accommodate laundry, storage, and much more. Other features include a wood-burning, brick fireplace and a three-season sunroom with generous windows to let sunlight in and to provide views of the 8,700-square-foot lot.

After just seven days on the market, the lovely home is pending sale.

Salisbury, MD

Realtor.com

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Price: $275,000
Storybook Cape Cod: The stone siding, bay window, and pitched roof give this Cape Cod a storybook feel. It’s been remarkably well maintained and restored, with original wood floors, wainscoting, and molding, plus a wood-burning fireplace.

Yet the kitchen and baths in this three-bedroom, 1.5-bath abode have all been updated with quality Kohler fixtures, the appliances are under 5 years old, and the plumbing is brand new.

The home measures 1,532 square feet, but all the light streaming in from its many windows makes it seem more spacious.

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Rochester, NY

Realtor.com

Price: $280,000
Practically perfect: This three-bedroom, three-bath cottage is so pristine it lasted less than a month on the market before it had a contingent offer.

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Measuring 1,934 square feet, the home features hardwood floors and French doors leading from the dining room to the enclosed sun porch. The extras reach outside to the master gardener-designed grounds.

There’s a finished basement with a bonus space that can serve as an office, family room, or playroom. It also includes a bedroom, full bath, laundry room, and storage.

Red Wing, MN

Realtor.com

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Price: $299,900
Remarkable remodel: Built in 2005 and already renovated since, this two-bedroom, two-bath, 2,100-square-foot Cape Cod in the Chesapeake Shores includes deeded access to the beach on Chesapeake Bay.

The solar panels on the roof, Energy Star appliances, new HVAC, roof, and water heater add appeal. The screened porch and side deck off the kitchen with the outdoor shower for removing the salt and sand are also pretty nice perks.

New Point, VA

Realtor.com

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The post You may Crave These Traditional Cape Cods, All Priced Beneath $300K appeared first on DAILY SAN FRANCISCO BAY NEWS.

You need a salary north of $300K in NYC, San Francisco and Honolulu just to bring home $100K — here’s why plus 3 easy ways to keep more of your paycheck

Many people find tax season to be a stressful time of year, but those living in some of the most popular cities in America may find paying taxes to be an even more discouraging experience — even when they’re wealthy.

SmartAsset, a financial research firm, analyzed the impact of taxes and living costs on individuals living in America’s biggest cities. Their research found that an annual salary north of $300,000 in New York City, San Francisco and Honolulu is required just to bring home $100,000 after taxes and cost-of-living adjustments.

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For context, the median American household income is $70,784, according to the U.S. Census Bureau. But SmartAsset’s research shows that a family living in the Big Apple or Silicon Valley would need more than four times that amount to feel like they’re in the “middle class.”

Regardless of income level or location, it’s always a good idea to save money. With that in mind, here are five ways to stretch your paycheck.

Minimize housing costs

Housing expenses can be among the most significant drains on your finances. Making adjustments to these costs can be an effective way to stretch your paycheck further.

If you’re looking to buy a home, it’s important to stay well below your mortgage approval amount to ensure you don’t stretch your finances too thin. Locking in at a good interest rate can also save you money in the long run.

According to a study by Freddie Mac, borrowers who obtain at least five quotes when shopping for a mortgage save an average of $3,000 over the life of the loan.

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It’s important to ensure that your monthly payments are stable and less than one-third of your monthly income. This is known as the 30% rule and is widely recommended by financial experts. By adhering to the rule, you make sure that your housing costs aren’t eating up too much of your budget, leaving you with more money to save or invest.

Put simply: strive to live below your means.

Read more: ‘It makes an enormous difference’: Warren Buffett says this simple ‘trick’ is the key to earning a generous retirement nest egg

Maximize tax-advantaged retirement accounts

Contributing to a 401(k) or IRA can help to reduce your taxable income and thus lower your tax bill. It can also fuel your wealth-building over time.

You should also look to take advantage of employer-sponsored benefits. Many employers offer perks like commuter benefits and flexible spending accounts, which can help to reduce your out-of-pocket expenses and save you money.

If your employer offers health insurance benefits, be sure to take advantage of them so you can reduce your health-care costs and save money on medical expenses.

Hire a professional accountant

If you make a lot of money, it’s a good idea to hire a professional accountant to help with your finances, including filing your taxes, to ensure you don’t make any costly mistakes.

Those of you who have a side gig might want an accountant to help you figure out how to deal with the income tax complications that come with being self-employed.

Even if you don’t make a lot of money, it might still be worth it to hire an accountant. They can help you get the most out of government subsidies and tax credits that you might qualify for. This could save you a lot of money in the long run and bring you peace of mind.

What to read next

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

The post You want a wage north of $300K in NYC, San Francisco and Honolulu simply to deliver residence $100K — here is why plus 3 simple methods to maintain extra of your paycheck appeared first on DAILY SAN FRANCISCO BAY NEWS.

By Jack Rogers

August 15, 2023 at 06:12 AM

Company sold 20-acre Bay Area property to e-retail giant in 2021.

San Mateo-based SteelWave has filed plans to redevelop a 20-acre site in Pleasanton that it sold to Amazon two years ago.

The developer is planning to build a 300K SF mixed-use campus at the Bay Area site on El Charro Road on the east side of Pleasanton, according to a report in the San Francisco Business Times.

The plans call for two industrial buildings encompassing 131K SF and 156K SF, respectively, and a two-story 12K SF commercial building that will be suitable for office or retail use.

In the fall of 2021, SteelWave and Lionstone Investment Group sold the Pleasanton property, along with six other parcels to Amazon, which at the time was planning to build a large distribution center there.

The plans filed this month will necessitate rezoning the property from agricultural use and will require approval from Pleasanton’s planning commission and the city council. The project also would require approval from Alameda County because it sits within an unincorporated portion of the county.

The company did not disclose whether it is planning to repurchase the land from Amazon.

Last fall, SteelWave unveiled plans to build a $241M life science on a site spanning two city blocks in West Berkeley. The project envisions the renovation of three buildings on a 3-acre site on 5th Street, between Bancroft Way and Allston Way, transforming them into campus that will be known as theLAB.

The developer also is planning to build a five-story, 415-space parking garage next doorto  theLab. Nine structures are being demolished or moved to make way for the project, including a 144-year home on Fifth Street.

According to a report in berkeleyside, SteelWave has lined up two tenants, Bolt Threats and Conception Bio for theLab, which is scheduled to open in 2024.

SteelWave acquired the West Berkeley site in January 2021, also is planning to build two more theLAB campuses in Emeryville and Foster City.

The design for theLAB Berkeley includes exposed bow-truss ceilings and an expansive indoor-outdoor mezzanine overlooking San Francisco Bay. The facility also will include an amphitheater lab and a boutique gym.

SteelWave is converting the Sherwin building in Emeryville into theLAB Emeryville. The adaptive reuse of the building will include large-scale cosmetic renovations, structural upgrades, full building core replacement and new installation of mechanical, electrical and plumbing infrastructure.

The Emeryville campus also will feature a penthouse and “pass-through” pedestrian and bicycle access.

The Foster City development will be home to a three-story Class A building on a 2.2-acre site. The campus will feature a third-floor rooftop terrace that offers extensive views of the San Francisco Peninsula.

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