Posted on January 11th, 2016 ยท Posted in Office Market

During 2015, the San Francisco office market saw major expansions from young companies, including Stitch Fix and Stripe. However, late in the year, things started to slow down, as investors were more cautious in valuing companies that were looking to grow. That caused a market where landlords were fighting over smaller amounts of space, as large office growth from companies slowed down.

However, that could change in the months ahead, as many technology companies are experiencing big growth which is leaving them unable to fit into their current spaces. In particular, six tech companies may be looking for new office space soon.

The ride-sharing company Lyft was reportedly looking to expand from 65,000 square feet to a space with about 150,000 square feet, as the 500 person company is experiencing huge growth. OKTA is a cloud-computing company that is worth $1.2 billion and is looking to expand from its current 58,000 square foot space. Nerd Wallet is a personal finance startup that is looking to double it current 50,000 square feet of space by the end of 2016.

Another growing company is Asana, a task management company that is looking to move from 20,000 square feet to about 100,000 square feet. Biotech company Zymergen raised $44 million in funding last year and hopes to move from 15,000 square feet up to 100,000 square feet, while software company Pivot Labs is looking to grow from 33,000 square feet all the way to 125,000 square feet of space.

For these companies, the China Basin space that is currently being subleased by Dropbox is reportedly getting a lot of interest from companies seeking a big amount of floor space. If these types of tech companies are able to wait on new space, there are new high-rises such as Salesforce Tower, 181 Fremont, 350 Bush, and Park Tower which may be able to accommodate them.

Photo credit, Flickr user: BKL