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AI startups continue fueling San Francisco’s office recovery | TechCrunch

Jun 06, 2025 - techcrunch.com
Early-stage AI startups are revitalizing San Francisco’s Northern Waterfront, leasing 23,900 square feet at the Waterfront Plaza complex, as reported by the San Francisco Business Times. This move is part of a broader trend where AI firms are expanding in the city, having leased 1.6 million square feet last year and now occupying a total of 5 million square feet, according to CBRE. OpenAI is a significant contributor to this growth.

CBRE projects that AI startups could expand to 21 million square feet within five years, potentially reducing the city’s 35.8% vacancy rate and creating tens of thousands of jobs. This growth could significantly enhance the vibrancy of downtown San Francisco. Waterfront Plaza, a 442,000-square-foot campus, has seen its tenant mix change with economic trends, previously hosting companies like WeWork.

Key takeaways:

  • Early-stage AI startups are revitalizing San Francisco’s Northern Waterfront, leasing 23,900 square feet at the Waterfront Plaza complex.
  • AI firms are expanding in San Francisco, with 1.6 million square feet leased last year and now occupying 5 million total.
  • CBRE projects that AI startups could reach 21 million square feet within five years, potentially reducing the city’s 35.8% vacancy rate.
  • Waterfront Plaza, a 442,000 square foot campus, has a tenant mix that shifts with economic trends, previously including WeWork.
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