Mar 6, 2019
Cappuccino at Ma'velous Coffee & Little Griddle, Mid-Market, San Francisco.
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Cappuccino at Ma'velous Coffee & Little Griddle, Mid-Market, San Francisco.
Cappuccino at Pentacle Coffee Company, Mid-Market, San Francisco.
San Francisco Office Lease Jolts Troubled District
What San Francisco Approved at 1455 MarketSan Francisco’s Board of Supervisors approved an amendment to the city’s existing agreement at 1455 Market Street. The move advanced a 21-year lease expansion that stood as the city’s largest office deal since 2018.The contract approval pushed forward a long-term commitment in Mid-Market. It also extended the agreement from May 2024 through April 2045. The expansion adds 502,000 square feet, bringing the city’s total footprint in the tower to roughly 930,000 square feet as part of a major expansion. Comparable public-sector office investments elsewhere, such as Sacramento’s downtown revitalization efforts, have been framed as catalysts for broader urban recovery.City officials still required Mayor Daniel Lurie’s sign-off before the transaction could close.Strategic TermsThe approval also included two five-year extension options. Those options could carry the lease through April 2055.It provided a three-year option to add more space. It also included a three-year option to pursue a property purchase, subject to later Board approval.City filings framed the lease expansion as a phased step toward concentrating government operations in a future central hub.How Big the 1455 Market Lease IsAt roughly 930,000 square feet in some reports, the 1455 Market Street commitment ranks among the most expansive single-tenant office footprints in San Francisco. It gives the city control of most of a roughly 1.1 million-square-foot Class A tower.The scale reflects sharp tenant concentration within a building variously measured at 1,123,875 or 1,038,134 square feet. Those differing figures underscore square-footage discrepancies across listings and filings. This kind of scale lands as investors also watch institutional interest return to major urban real estate transactions despite economic uncertainty.AreaApprox. SFImageExisting occupancy400,000+Several stacked floors already litAdded or optional blocks225,800+ to 502,000More floors filling upward and downwardTotal city footprint~930,000Most of the tower under one userSpecific blocks help show the size of the lease. They include the 97,718-square-foot fourth floor and the 99,041-square-foot fifth floor.They also include the 131,534-square-foot sixth floor and a 66,056-square-foot sublevel.Why the Lease Matters for Mid-MarketCity-hall consolidation at 1455 Market would turn a troubled Mid-Market tower into the central hub for government operations. It would sharply increase the public-sector presence in a district battered by vacancy and office distress.A Stronger Civic AnchorThat shift matters because it replaces a former tech identity with a durable civic anchor. It also concentrates thousands of workers near Market Street.In urban-planning terms, a stable government headquarters can reinforce employment density. It can also support weekday foot traffic and nearby food and service businesses.Confidence Signal for the DistrictThe lease also carries symbolic weight. As one of the largest office deals in years, it could reshape public perception of Mid-Market.Instead of a weakened office zone, the district would project long-term institutional commitment. The arrangement also gives the city cost control and a future purchase option.How Office Vacancy Shaped the DealVacancy was the force that defined the bargaining environment behind the proposed lease at 1455 Market.With San Francisco office vacancy near 35 percent through much of 2025, and still above 28 percent to 30 percent in early 2026, landlords faced a market burdened by years of empty space.Supply Pressure and TermsRoughly one-third of city inventory stood vacant, with about 32 million square feet empty and nearly 36 million available.That oversupply increased competition for credible occupants and expanded tenant leverage, especially as sublease space remained unusually high at 6.6 million square feet in mid-2025.Even with demand improving through positive net absorption and stronger leasing volume, pricing stayed under pressure.
In that setting, lease flexibility became more attainable than in pre-pandemic conditions, particularly for tenants considering better-located Class A options.What Happens Next at 1455 MarketPending only Mayor Daniel Lurie’s approval, the Board of Supervisors-backed amendment sets the next phase at 1455 Market in motion.It locks in a 21-year lease expansion that would bring the city’s footprint to roughly 930,000 square feet in the 22-story tower.The leasing timeline points to a fall 2027 move-in.That’s when consolidated departments are expected to begin occupying the Class A property and establishing a government hub in Mid-Market.Key next stepsFinal mayoral signoff and lease closing.Buildout of expanded floors for city occupancy.Review of a purchase option tied to public financing.The city can pursue ownership through Dec. 31, 2027.That option applies if it leases at least 400,000 square feet.Any acquisition would be priced at fair market value.The deal would include a floor of $200 per square foot.AssessmentThe approved lease at 1455 Market delivers a rare office commitment in a district defined by prolonged weakness.Its scale provides a measurable signal that selected tenants still see strategic value in Mid-Market despite elevated vacancy and financial strain.The agreement does not resolve broader market instability, but it reduces uncertainty around a prominent asset and may influence nearby leasing decisions.Attention now shifts to execution, occupancy timing, and whether the transaction marks stabilization or remains an isolated exception.
Why Mid-Market Businesses Need Accounting & Finance Staff
Why Mid-Market Businesses Need Accounting & Finance Staff
The role of a skilled accounting and finance workforce is pivotal in the success of mid-market businesses. They are the navigators of growth, the decision-makers, the risk managers, and the achievers of strategic goals.
Growth and Complexity: Mid-market companies often experience rapid growth, increasing the complexity of their financial activities. They require staff accountants and bookkeepers to handle transaction volume, while senior accountants manage these teams for accuracy.
Financial Oversight and Decision Making: Financial analysts are essential for mid-market businesses to closely monitor their financial health, identify trends, and assist leadership in making informed decisions about investments, budgeting, and future growth.
Compliance and Regulations: A skilled accounting team is crucial for mid-sized businesses to adhere to accounting standards and tax regulations, ensuring accurate financial reporting and preventing costly mistakes, which is not just a legal requirement.
Efficiency and Cost Management: The well-organized accounting department streamlines financial processes, identifying cost savings, while Accounts Payable/Receivable clerks ensure smooth cash flow, while controllers/accounting managers oversee financial picture and optimize resource allocation.
Strategic Planning and Risk Management: Financial analysts are crucial in strategic planning, interpreting financial data, forecasting future performance, identifying potential risks, and making informed decisions, making them essential for mid-market businesses.
Investor Relations: Some mid-market companies may be looking to attract investors or go public. A strong accounting and finance team provides the transparency and financial reporting that investors require.
Zoho Expands Its Ambitions On Multiple Fronts
📢 At the recent Zoholics event in Austin, TX, Zoho unveiled its plans for expansion in the mid-market and solopreneur segments. Read my take here. @zoho #ZoholicsAustin23 #SMB #AI #ChatGPT #browsers
After a four-year hiatus due to COVID-19, Zoho’s Zoholics event was back in Austin, TX the first week of May, featuring an analyst track that I attended. The dominant takeaway is that Zoho, which already sells more than 60 business applications in 160-plus countries, is expanding on multiple fronts. The company is doubling down in the mid-market (which it defines as companies with 100 to 1,000…
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It appears to be becoming a new retail real estate trend: Large shuttered drug stores in San Francisco that offer loads of space are being reenvisioned into smaller chunks of space for retail or offices.
The closure of both the Walgreen and CVS Mid-Market locations has left two large vacent storefronts on a struggle stretch of San Francisco's main boulvard.
Owners of both building are the process of splitting them into smaller spaces. The project manager for the former Walgreens location at 750 Market told the SF Business Times, “that there is currently tenant interest in about half of the space."
A time when SF Victorians were 'gaudy' and traffic was something to be proud of.
Using Services Like XE To Transfer Money Abroad
Understanding How A Money Transfer Really Works To Save You Money
As Canadians, we like to define ourselves not so much by who we are, but who we AREN’T. Sure, we love hockey, but mostly, we look south of the border and contrast ourselves against our American cousins.
We have universal healthcare, they don’t. Americans are brash, loud, and boastful, we’re introspective, quiet, and grounded.
Yet,…
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