Elon Musk's X to sublease entire S.F. headquarters, tech company's future in city unclear

When X Corp., once known as Twitter, leased a converted furniture mart covering the length of a city block on Market Street in 2011, the deal ushered in a new era for a long undervalued San Francisco neighborhood.

Mid Market, a notoriously blighted stretch between downtown and Civic Center, became flush with office workers, added gourmet eateries and grew a crop of shiny new apartment towers — its surging values were fueled in part by a tax break given to the social media giant and other companies moving in. But, more than a decade later, the neighborhood’s resilience is being put to the test as the anchor tenant that helped it transform now plans its exit.

Real estate firm JLL has confirmed to the Chronicle that it has been hired to market X’s entire, roughly 800,000-square-foot headquarters complex at 9th and Market streets for sublease.

The new listing, which has yet to officially hit the market, is for roughly 460,000 square feet of office space that X occupies inside of a hulking, near-century-old Art Deco building at 1355 Market St. It also includes an attached, roughly 330,000-square-foot building at 1 Tenth St. that the company previously made available for subleasing.




https://www.sfchronicle.com/realestate/article/elon-musk-x-sublease-s-f-headquarters-19568418.php