By Meghan Hall
Waymo, a subsidiary of Alphabet Inc. and Google, has leased a chunk of industrial space in San Francisco’s Bayview neighborhood as it works to resume operations after a pause this spring. The autonomous car firm has taken 120,000 square feet on Toland Street, a spokesperson from Lift Partners confirmed to The Registry.
Waymo has leased 201 Toland, a 32,000 square foot warehouse with just under 90,000 square feet of land. Waymo has leased the property for eight years, and the value of the lease is about $26 million. Calco Commercial represented Lift Partners, while Kidder Mathews represented Waymo. Prior to Waymo moving in, Google Bus occupied the property.
301 Toland, located next door, totals 110,000 square feet. Together, the two properties sit on 5.5 acres and total 140,000 square feet of building area. Lift Partners purchased the properties from 99 Central Investments in March for $75 million.
According to a leasing brochure obtained by The Registry, there are 796,000 people living within five miles of the assets, and 1.42 million living within 10 miles. Nearby development includes Potrero Terrace, a 1,456-unit residential development, the 29-acrePotrero Power Station mixed-use project, and Pier 70, a 69-acre mixed-use and adaptive-reuse project. Drive time into downtown San Francisco is about 10 minutes from the assets.
Waymo, which has leased office space in San Francisco, intends to use the Toland Street properties to accommodate its growing team and to expand its fleet of vehicles. Established in 2009, Waymo has been working on self-driving technology for the past decade as part of Google’s self-driving car project. In March, the company had suspended driving operations as a result of COVID-19 but over the past several months has resumed operations. Waymo plans to use its newest site largely for vehicle testing and storage as it continues to grow.
