Repurposing and Geography Counter Growth Impediments

SAN FRANCISCO–Companies are feeling the crunch, despite wanting to keep the team mentality, and are looking at other cities as barriers to development are causing workplace issues, said a panel of facilities directors, technology principals and investment vice presidents during the RealShare Bay Area conference on Tuesday. Panelists included Elizabeth Hart, SVP of Newmark Cornish & Carey; Maja Henderson, global facilities director at Square Inc.; and Randy Howder, technology practice area leader/principal at Gensler; Brandon Wang, vice president of development and investments at Kilroy Realty Corporation, along with moderator, Jonathan Allen, principal at Avison Young.

Wang indicated that Proposition M is a negative from an infrastructure standpoint, with office developer caps driving up land prices, which is creating a domino effect. Being priced out of the Bay Area is forcing companies to look outside San Francisco in Oakland, which is experiencing a resurgence. Other cities mentioned as viable contenders include Denver, Phoenix, Portland and Austin.