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Are More Mega-Deals in the Hopper?

After large real estate deals for tech giants Facebook, Dropbox, Adobe, Salesforce and Okta in 2017, Steve Berkman of Paul Hastings sheds some light into what's in store for 2018 in this EXCLUSIVE.

By Lisa Brown | Updated on January 18, 2018

100 First Street Okta signed a 10-year lease for its new 207,000-square-foot headquarters at 100 First St.

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.

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