San Francisco (September 25, 2018) — Knotel, the premier flexible workspace provider, announced today that it has finalized five new office space leases totaling approximately 50,000 square feet in San Francisco. The new Knotel locations build on the brand’s expansion throughout the San Francisco market.
“The demand for high-quality but flexible office space is extremely strong in San Francisco,” said Kwame Spearman, Head of Expansion for Knotel. “Fast-growing companies here need to satisfy their immediate and short-term space requirements while not tying up valuable resources longer term if they don’t know what their needs will be a few years from now.”
He continued, “Knotel has been here for less than a year, but we are already establishing a leadership position in our part of the office market locally. We look forward to cementing that position as we continue to grow.”
In the largest transaction announced today, Knotel signed a 17,000-square-foot lease encompassing Floors 1 and 2, plus the mezzanine and basement levels at 321 11th Street. The landlord, Birmingham, was represented by Brian McCarty of Colliers. Knotel was represented by Justin Bedecarre and Blake Stanley of Hello Office.
In addition to the transaction at 321 11th Street, Knotel inked deals for:
- 11,579 square feet of space on the 2nd and 7th floors at 550 Montgomery Street. The landlord, Downtown Properties, was represented by Roman Adler of Newmark. Messrs. Bedecarre and Stanley represented Knotel.
- 8,209 square feet on the 5th and 6th floors at 221 Pine Street. The landlord entity, 221 Pine Street Ownership Group, was represented by Pat Hubbard of Sansome Street Advisors. Knotel was represented by a CBRE team consisting of Shap Roeder, Brooke Agresti, Reuben Torenberg and Jenny Haeg.
- 8,017 square feet on Floor 2 at 160 Pine Street. Landlord Britphil & Co. was represented by Clayton Jew of Kidder Matthews, while Knotel was represented by Messrs. Bedecarre and Stanley.
- 5,000 square feet on the 3rd and 4th floors at 701 Sutter. The landlord, Reed Moulds, was represented by Touchstone Commercial’s Zach Haupert, while Knotel was represented by Messrs. Bedecarre and Stanley.
Knotel – which designs, builds and operates custom spaces for companies of 50 employees or more – was founded in New York City in 2016 and caters to established and growing brands. It has quickly expanded nationally and internationally, with additional locations in San Francisco, London, and Berlin. Knotel currently operates more than 70 locations worldwide, with plans for expansion in existing cities, and into new markets in the U.S. and overseas.
The new transactions come just weeks after Knotel acquired search engine 42Floors, a move that gives Knotel access to data and technology on over 10 billion square feet of office space while accelerating its plans for a blockchain platform, Baya.io. Prior to that, Knotel acquired Ahoy!Berlin in June 2018 as it further expands its footprint into the European marketplace. Today, over 200 companies call Knotel home, including Starbucks, Stash, and King.
With 1.4 million square feet across 70 locations in New York, San Francisco, London and Berlin, Knotel is transforming the way we work with its Agile HQ™ Platform. Making long-term leases a thing of the past, Knotel designs, builds, and operates custom spaces for enterprises, so they can focus on building the future.
Founded in 2016, Knotel has raised $100 million in funding, and was named a Business Insider Top 50 Startup and New York’s Hottest New Workspace Model. Knotel’s member network includes companies like Starbucks, Cheddar, and King. Visit knotel.com.