[contextly_sidebar id=”BaWq9vNEvDC5ETY8vB4G2ZGyzCBYSWPu”]The Registry was the first to break the news last week of the lease when we interviewed Cyrus Sanandaji, principal of Bluxome Partners, the developer. At the time, Sanandaji could only confirm that the tenant will be a healthcare company and that the building is fully leased. His firm has most recently been behind the successful redevelopment and leasing of 1045 Bryant Street, a brick and timber building also located in SoMa.
Late last month, Collective Health, an enterprise health insurance software provider secured $81 million series C funding and moved quickly to secure a new home in San Francisco. According to sources with knowledge of the transaction, the new home has been confirmed at 85 Bluxome Street in San Francisco, in the city’s burgeoning Central SoMa district.
85 Bluxome is one of 5 projects in the Bay Area that is seeking the WELL standard certification, a year-old building standard administered by New York-based DELOS Living that recognizes buildings following best practices for the health and wellness of its inhabitants. It is a standard that takes into consideration the full picture of how a building is managed and what type of environment it provides to its tenants.
“Sustainability has always been at the forefront of our development principles,” said Sanandaji, principal of 85 Bluxome developer Bluxome Partners. “LEED always fell short of providing any direct benefits to the building occupants and, in turn, the tenants and employees. When learning about the WELL standard and extending the benefits of the WELL standard to the residents of the building, it made all the sense on the world to complement what we were already doing with the environment.”
85 Bluxome is a nearly 57,000 square foot, Class A office building that is seen as a rarity in both size and class in the SoMa district. It features floor to ceiling windows throughout its front façade. It has five stories and offers attractive amenities and unique design features like a living wall in each elevator lobby, a 1,200 square foot 5th-floor terrace and a 2,300 square foot rooftop deck. Along with that, the building has secure bike parking and locker rooms with showers. The building is located between Fourth and Fifth Streets and one block from the Caltrain station on King Street.
The building was designed by RIM Architects and built by BCCI Construction. Leasing efforts were led by Cushman & Wakefield’s Executive Director JD Lumpkin and Director Dave Young. The two were unable to provide any information on the transaction due to nondisclosure agreements.
Collective Health was founded in 2013 and has raised $119 million in total funding. According to a published statement, the firm will serve 30,000 members and is expected to process over $200 million in health insurance claims. Two of its most prominent clients are Anthem and Blue Shield of California.
The company will be moving from its current offices at 101 S San Mateo Dr. in San Mateo.