New York City-based real estate company Brookfield Properties recently announced the execution of a new office space lease at its 5M district office tower in the SoMa neighborhood of San Francisco.
Specifically, modern home management platform Thumbtack has taken on a full-floor office lease at 415 Natoma St. The leased space will serve as the firm’s first “Library,” a new concept that provides space for independent work, as well as in-person connections for local team members.
Featuring floor-to-ceiling windows, an open layout with no conference rooms and two distinct spaces, Thumbtack’s San Francisco Library is custom-designed for a new way of working. The first distinct space is tailored for socializing, hosting gatherings and collaborating in lounge areas, with an open kitchen and separate bar area. Meanwhile, the second distinct space aims to provide dedicated space for quiet, heads-down work and includes dedicated Zoom rooms to meet with collaborators from anywhere around the world.
Cushman & Wakefield provided tenant representation during the closing of the deal, while Newmark worked on behalf of Brookfield Properties. No further transaction details were included in the announcement.
“At Thumbtack, we are rethinking the future of work as we embrace a virtual-first model,” said Jelena Djordjevic, VP of People at Thumbtack. “As a result, we’re changing our real estate footprint to provide dedicated space for socializing with colleagues to build deeper connections and for getting work done. We’re intentionally not building an ‘office.’ We’re excited to introduce a brand new, purpose-built environment to connect in-person — be that through an in-person activity or after-work happy hour — or simply to enjoy a change of scenery day-to-day.”
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Located in the South of Market neighborhood, 415 Natoma was designed by KPF and anchors the massive 5M SoMA mixed-use project. Developed by a partnership between Hearst Corporation and Brookfield Properties, 5M transformed four acres of parking lots and underutilized warehouse space into a modern pedestrian experience with new open public spaces, restored historic buildings, housing, offices and retail.
👀 A birds eye view of Mary Court at 5M! The project includes 415 Natoma, the only ground-up large-scale office building to be delivered in the city in 2021. ✨ pic.twitter.com/jdPOhK62CF
— Brookfield Properties Development Group (@BrookfieldDev) March 26, 2021
Rising 25 stories above the corner of Howard Street and 5th Street, 415 Natoma incorporates roughly 631,000 square feet of premium San Francisco office space, with large floor plates ranging from 19,700 to 37,400 square feet and activity-based flexible layouts. On-site and nearby amenities include: a new public park; programming for arts, neighborhood cultural communities and community youth; and ample retail and food and beverage options.
“Thumbtack has been a fixture in SoMa since its inception in 2008, and we’re excited that 415 Natoma can provide them with all of the ingredients necessary to make a modern, healthy space for their team members to thrive,” said Cutter MacLeod, director of asset management for the Bay Area at Brookfield Properties. “We’re offering businesses, nonprofits and arts-based organizations a dynamic, mixed-use environment unique to San Francisco.”