This is Silicon Valley’s largest new office lease since 2023, according to Newmark. https://t.co/Of3emU6dDR
Charted: The U.S. Cities Gaining and Losing Corporate HQs 🏬 https://t.co/yXga6EPf17 https://t.co/gH5gOSS7it
Former 23andMe HQ in Sunnyvale bought by Spear Street Capital for $87M https://t.co/UcsQ2NVaKe via @svbizjournal
The corporate real estate landscape in the Bay Area and Silicon Valley is seeing notable activity in 2025 despite a broader trend of headquarters relocating out of the region. Hudson Pacific Properties completed the sale of 625 Second Street in San Francisco for $28 million on June 2. Redco finalized its acquisition of Shorenstein's 208 Utah Street, marking its third office purchase in San Francisco since April 2024. Flynn Properties and DRA recently executed the most expensive office transaction in San Francisco since 2022, albeit at a steep discount. Meanwhile, Amazon is expanding its Silicon Valley footprint by leasing an additional 141,000 square feet from WeWork, supporting its return-to-office policy. Deepwatch has moved its headquarters to Silicon Valley while maintaining operations in Tampa. Spear Street Capital purchased the former 23andMe headquarters in Sunnyvale for $87 million. According to a CBRE report covering 2018 to 2024, 2024 was the second-busiest year for headquarters relocations with 96 announcements, driven primarily by factors such as lower taxes, a pro-business climate, access to customers, and talent availability. Texas leads in net headquarters gains during this period. Despite some tech companies reducing their Seattle presence, others are expanding, including a notable startup filling out its new Seattle office and a Kirkland-based company adding two offices locally. Overall, while the Bay Area has experienced a corporate headquarters exodus, some companies continue to invest and expand their office presence in San Francisco and Silicon Valley.
