Before identifying and coming to terms for this space, NerveWire officials conceded it was a tough task. Like many companies before it seeking office space in San Francisco, NerveWire was forced by escalating prices to consider sites in Oakland and Emeryville.
After doing extensive research and planning, though, NerveWire officials determined that San Francisco was the place they needed to be initially along the West Coast. "It took us longer then expected to find the right price," said Ben Taylor, NerveWire's acting vice president of West Coast operations. "Now we believe the market is getting much better with the drop in market and massive killing of dot-com businesses."
In addition to negotiating terms with the property's owner, Shorenstein Partners, that Taylor regarded as "competitive" for the market, NerveWire also has an option for an additional 10,000 square feet to accommodate future growth.
The San Francisco operation follows the establishment of offices in Boston, New York and Minneapolis. The 10-month-old company employs more than 250 workers.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
