SAN FRANCISCO—After large deals for tech giants Facebook, Salesforce, Dropbox and Adobe, Okta ended the year with a 10-year lease for its new 207,000-square-foot headquarters at 100 First St. in SoMa owned by Kilroy Realty Corporation. A provider of identity for the enterprise, Okta is expanding its footprint in the city in the wake of its April 2017 initial public offering and anticipated growth plans.
100 First Street is a 27-story 467,000-square-foot office building designed by Skidmore, Owings and Merrill and built in 1988. The LEED Gold and Energy Star-certified property is currently 95% leased. Okta's expected occupancy is to occur in phases, beginning in the second quarter of 2018. The lease will replace all of Delta Dental's 188,000 square feet that expires in the second quarter of 2018 as well as include an additional 19,000 square feet in the building.
Paul Hastings LLP represented Okta in the lease. The team was led by real estate partner Steve Berkman and included associates Anna Cressman and Samantha Sheehan. In addition, Berkman also advised on the Facebook and Salesforce transactions.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
