LG Electronics is leasing 10,600 square feet in a SoMa building in San Francisco for its new office. The lease rate was $47 per square foot. PMI Properties recently leased space in the same building to other tech tenants like HOK and Adobe. The landlord owns six buildings in SoMa totaling 350,000 square feet that are fully leased.
- Two classic South of Market creative buildings in San Francisco traded for over $600 per square foot, far above typical prices for similar buildings. Affiliates of Zurich Alternative Asset Management paid $47 million for 410 Townsend Street and $35.2 million for 539 Bryant Street.
- 410 Townsend Street is fully leased to Adobe and had past tenants including Yammer, Eventbrite, Playdom, and Zendesk. 539 Bryant Street was Twitter's first home in San Francisco.
- The high sale prices of these buildings reflect the strong demand for creative office space in SoMa from growing tech companies.
This document discusses input and output statements in C programming. It defines input/output statements and explains their function of accepting input from and displaying output to devices like the keyboard, monitor, and error device. It provides examples of using standard functions like printf(), scanf(), gets(), and puts() for formatted input and output of different data types. It also covers format specifiers used with these functions to read from and write to variables of specific types like integers, characters, and floating-point numbers.
The document discusses different types of triangles and rules for determining if triangles are congruent. It defines congruent figures as those that are equal in size and shape and can cover each other completely. It then provides four rules for triangle congruence: SAS, ASA, SSS, and RHS. These rules state that triangles are congruent if their corresponding sides and/or angles are equal.
This presentation covers the approach taken in ISO 15926 and how the different parts of the standard are being utilised to deliver a semantic solution of engineering data. The concepts are explained with some relevant samples.
Finally the ISO 15926 technologies are covered and how the technology vendors are delivering ISO 15926 solutions.
The presentation is aimed at practitioners, but has some technical aspects and covers industry topics such as Master Data Management, Reference Data and Instance Data.
A video of the presentation is available at http://youtu.be/_bAQHOBCvW4
This poem expresses the thoughts and feelings of "I" who sees themselves as smart and friendly. They wonder if they will succeed in life, hear music in their soul, and see the sunrise each day marking a new opportunity. While wanting to achieve their goals, they also pretend to be a princess, feel an angel's wings, and touch fluffy clouds. They worry about growing up too fast and cry when under too much stress but understand life has ups and downs. They say they believe in God, dream of success, try their best, and hope future generations do not become corrupted.
El documento habla sobre la investigación de operaciones. Explica que la investigación de operaciones es la aplicación del método científico a problemas relacionados con el control de organizaciones para encontrar soluciones óptimas mediante el uso de modelos matemáticos. También describe algunas aplicaciones clave de la investigación de operaciones como la planificación de la producción, las finanzas, el mercadeo y la distribución.
- Two classic South of Market creative buildings in San Francisco traded for over $600 per square foot, far above typical prices for similar buildings. Affiliates of Zurich Alternative Asset Management paid $47 million for 410 Townsend Street and $35.2 million for 539 Bryant Street.
- 410 Townsend Street is fully leased to Adobe and had past tenants including Yammer, Eventbrite, Playdom, and Zendesk. 539 Bryant Street was Twitter's first home in San Francisco.
- The high sale prices of these buildings reflect the strong demand for creative office space in SoMa from growing tech companies.
This document discusses input and output statements in C programming. It defines input/output statements and explains their function of accepting input from and displaying output to devices like the keyboard, monitor, and error device. It provides examples of using standard functions like printf(), scanf(), gets(), and puts() for formatted input and output of different data types. It also covers format specifiers used with these functions to read from and write to variables of specific types like integers, characters, and floating-point numbers.
The document discusses different types of triangles and rules for determining if triangles are congruent. It defines congruent figures as those that are equal in size and shape and can cover each other completely. It then provides four rules for triangle congruence: SAS, ASA, SSS, and RHS. These rules state that triangles are congruent if their corresponding sides and/or angles are equal.
This presentation covers the approach taken in ISO 15926 and how the different parts of the standard are being utilised to deliver a semantic solution of engineering data. The concepts are explained with some relevant samples.
Finally the ISO 15926 technologies are covered and how the technology vendors are delivering ISO 15926 solutions.
The presentation is aimed at practitioners, but has some technical aspects and covers industry topics such as Master Data Management, Reference Data and Instance Data.
A video of the presentation is available at http://youtu.be/_bAQHOBCvW4
This poem expresses the thoughts and feelings of "I" who sees themselves as smart and friendly. They wonder if they will succeed in life, hear music in their soul, and see the sunrise each day marking a new opportunity. While wanting to achieve their goals, they also pretend to be a princess, feel an angel's wings, and touch fluffy clouds. They worry about growing up too fast and cry when under too much stress but understand life has ups and downs. They say they believe in God, dream of success, try their best, and hope future generations do not become corrupted.
El documento habla sobre la investigación de operaciones. Explica que la investigación de operaciones es la aplicación del método científico a problemas relacionados con el control de organizaciones para encontrar soluciones óptimas mediante el uso de modelos matemáticos. También describe algunas aplicaciones clave de la investigación de operaciones como la planificación de la producción, las finanzas, el mercadeo y la distribución.
Jim Wenk secured a 10-year sublease agreement for Mizuho Securities USA to occupy 69,000 square feet across the 11th and 12th floors of 320 Park Avenue, negotiating one of the best deals in the building. The space met Mizuho's requirements of being in a trophy Class A building in Midtown Manhattan with sufficient floorplates and backup generator infrastructure needed as a primary dealer to the Federal Reserve. Wenk represented Mizuho Securities in negotiating the sublease with JPMorgan, who owns the building and was seeking to reduce its space needs after acquiring Bear Stearns.
Ibj glick partners on $30 m downtown apartment development 2-14-11ReBloom UpTown
Milhaus Development and Gene B. Glick Co. plan to break ground late this year on a $30 million first phase to redevelop the former Bank One Operations Center into 258 apartments and retail space. The project aims to add new residential units downtown and clean up a blighted building. Glick will use its apartment development experience, while Milhaus designed a public-private partnership for the city to acquire parking assets for the project without costs. Some have questioned if the city is taking on too much risk in overpaying for the properties.
Tishman Speyer restructured $1.4 billion in debt secured by five Downtown Chicago office properties. The restructuring agreement provides over $100 million for leasing commissions and tenant improvements. It also allows Tishman Speyer to directly invest $50 million into property upgrades. This enables Tishman Speyer to fulfill financial obligations and fund future leasing and building operations. Separately, McCaffrey Interests opened a new 198-unit apartment tower in River North with 40% of units already leased.
San Francisco Highlights Q1 2012 Tom Posertomposer
The technology industry continues to drive growth in San Francisco's office market in Q1 2012. Several large leases were signed at newly renovated buildings like 680 Folsom Street, where Salesforce.com, Macy's.com, and Riverbed Technologies will occupy significant space. Twitter's new headquarters at Market Square also captured tenants. Developers are renewing plans to build in the South Financial District to meet rising demand. Construction activity increased across the city, including renovations of several buildings and a new headquarters for the San Francisco Public Utilities Commission.
Kirk Thompson was skeptical when first told that Rocket Fuel planned to double in size annually for the next three years due to the immense challenge of rapidly hiring people and securing adequate office space. However, Rocket Fuel has grown from $2.3 million in revenues in 2009 to $240.6 million in 2014 while doubling in size in both 2013 and 2014. Thompson and his real estate team have worked tirelessly to find and build out new office spaces around the world, such as a 145,000 square foot headquarters in Redwood City, a 48,876 square foot office in San Francisco's Mid-Market district, and refurbishing a former telecom building in London, to accommodate Rocket Fuel's exponential growth.
In 2016, Chris Economou most recently held the title of Regional Manager for the nation’s largest publicly traded real estate investment firm, Marcus & Millichap. The firm completed over $38 billion dollars in investment sales in 2016.
The San Francisco office market saw increased leasing activity in the third quarter of 2013 driven by demand from the technology sector. Major lease transactions included Uber Technologies leasing 88,135 square feet at 1455 Market Street and Google leasing 50,218 square feet at 345 Spear Street. Meanwhile, investment in the office market slowed in the third quarter with only a few small sales transactions totaling $13.3 million. However, several large office buildings were put up for sale, which could provide investment opportunities. The technology industry continues to be the primary driver of the San Francisco office market.
Donald Trump plans to redevelop the weathered Doral Golf Course and Hotel in Miami into a luxury resort, investing millions. Gil Dezer is working with Porsche to build a futuristic condo tower in Sunny Isles Beach that will have glass elevators transporting residents and their cars directly into their high-end units. The 57-story Porsche Design Tower project is estimated to cost $560 million and will have 132 luxury units up to $9 million each with robotic parking for 284 vehicles.
Mark D. Walker is a senior vice president at Colton Commercial & Partners, Inc. The document provides a partial summary of his recent transaction experience representing both tenants and landlords. It describes numerous lease, sublease and sale transactions he has completed involving companies relocating or expanding their office space in San Francisco. The transactions involved spaces ranging in size from portions of floors to entire buildings and included negotiations for build-outs, rent amounts and other terms.
Mark D. Walker, a senior vice president at Colton Commercial & Partners, Inc., has successfully represented both tenants and landlords in leasing numerous commercial properties in San Francisco. Some of his recent deals include representing Bregante + Company in relocating their headquarters to a LEED certified building, and representing SWA Group in leasing space in the historic Federal Reserve Bank building. He has also leased several buildings to 100% occupancy through multiple tenant deals.
The Matrix Corporate Center in Danbury, Connecticut recently signed leases with two new tenants, Macromark and the Eastern Collegiate Athletic Conference, totaling 17,500 square feet of office space. An existing tenant, NewOak, also expanded by 10,000 square feet. The building is now 70% occupied. Matrix has invested $20 million in renovating the 35-year-old building, formerly the headquarters of Union Carbide, upgrading amenities and technology to attract tenants and position the property as a Class A office complex. The 1.3 million square foot building offers a variety of office space sizes along with numerous on-site services and amenities.
Leadership
Business savvy
Strategic focus
Quickly adapt
Productivity and Profitability.
Expert real estate development and construction
Broad P&L experience
Global project management,
Design-build ventures
Value engineering
Turnarounds
Startups
Joint ventures
Strategic alliances
Business development
Risk management
QC and cost control
Green facilities
CRM
Environmental controls and regulatory compliance
Master of the intricacies of complex mixed-use development and major design-build projects
Well-deserved reputation for turning troubled ventures into winners.
Blue is Boston's primary commercial office real estate market report, covering macroeconomic trends affecting availability and pricing of space in the Greater Boston market, and showing attractiveness of the market to the real estate investment community. Blue 2017.2 covers the quarter ended June 30, 2017.
The Class A office availability rate in Los Angeles fell from 19.5% to 19.2% in the first quarter of 2015, while overall availability remained steady at 18.0%. Strong leasing activity over the last six months totaled 10.1 million square feet, the best two-quarter period in years. Asking rents increased 1.7% overall and 1.5% for Class A properties. West Los Angeles submarkets saw sharp quarterly declines in availability rates and continued rent growth above other areas of LA County.
BIM helped Luxury Community Development in Florida, USAPinnacle Infotech
Luxury community development in Fort Lauderdale, Florida, USA implemented BIM. Apartments included 9-11 feet ceilings, balconies, walk-in closets, fitness center, gourmet kitchen and more. For more https://www.pinnaclecad.com/projects/paseo-del-mar/
Rollout ROYALty: KC firm excels at high-velocity national rolloutsJamie Leeper
Large scale rollouts and rapid deployments are the bread and butter of our Projects team. From nationwide fixture installation and reset projects, to partnering with global OEMs to roll out their products, our project managers and field technicians will get your project done on time and on budget with minimal disruption to your operations.
The document describes the commercial real estate team of Mark Krison, Luke Krison, and Carole Uhrig. Mark has over 33 years of experience specializing in office, flex-industrial, and data center projects totaling over $1 billion. Luke focuses on flex-office space leasing and sales. Carole provides sales and business management support. The team offers development, leasing, and investment services with a track record of successful projects throughout the Phoenix metropolitan area.
The Northwestern Mutual Tower and Commons - Select Media CoverageJohn Gardner, APR
Northwestern Mutual unveiled plans for a new $450 million, 32-story office tower in Milwaukee. The curved glass tower, designed by Pickard Chilton, will replace an existing 16-story building and reshape Milwaukee's skyline. It will provide space for Northwestern Mutual's 3,600 existing employees as well as an additional 1,900 jobs over the next 15 years. The development will also include a three-acre public space called the Commons. Construction is scheduled to begin in 2014 and be completed in 2017.
This document summarizes an article from USBuildersReview magazine about Broadway Mechanical-Contractors Inc. (BMC), a mechanical contracting company based in Oakland, California. It discusses BMC's history of over 100 years in the industry, current leadership of Fred and Ken Nurisso, and recent projects including plumbing and HVAC work for a large multi-tower development project in the Transbay area of San Francisco and a 27-story office building. It also notes BMC's strengths in design, fabrication, installation, and maintenance capabilities that help them succeed on complex high-rise projects in San Francisco's competitive commercial market.
- Legal and fashion firms accounted for 35% of leasing activity in 2Q15, driven by large deals from Chanel, Morgan Lewis, and Ralph Lauren. Overall leasing activity outpaced historical averages.
- Availability remained stable at 11.4% as new supply was absorbed, while average asking rents increased 6% year-over-year to $68.80 per square foot.
- Strong leasing in Midtown was led by renewals from Morgan Stanley and Bank of America, while new construction projects like One Vanderbilt saw increased interest. Midtown South leasing focused on new developments and prime neighborhoods.
How to Implement a Strategy: Transform Your Strategy with BSC Designer's Comp...Aleksey Savkin
The Strategy Implementation System offers a structured approach to translating stakeholder needs into actionable strategies using high-level and low-level scorecards. It involves stakeholder analysis, strategy decomposition, adoption of strategic frameworks like Balanced Scorecard or OKR, and alignment of goals, initiatives, and KPIs.
Key Components:
- Stakeholder Analysis
- Strategy Decomposition
- Adoption of Business Frameworks
- Goal Setting
- Initiatives and Action Plans
- KPIs and Performance Metrics
- Learning and Adaptation
- Alignment and Cascading of Scorecards
Benefits:
- Systematic strategy formulation and execution.
- Framework flexibility and automation.
- Enhanced alignment and strategic focus across the organization.
Jim Wenk secured a 10-year sublease agreement for Mizuho Securities USA to occupy 69,000 square feet across the 11th and 12th floors of 320 Park Avenue, negotiating one of the best deals in the building. The space met Mizuho's requirements of being in a trophy Class A building in Midtown Manhattan with sufficient floorplates and backup generator infrastructure needed as a primary dealer to the Federal Reserve. Wenk represented Mizuho Securities in negotiating the sublease with JPMorgan, who owns the building and was seeking to reduce its space needs after acquiring Bear Stearns.
Ibj glick partners on $30 m downtown apartment development 2-14-11ReBloom UpTown
Milhaus Development and Gene B. Glick Co. plan to break ground late this year on a $30 million first phase to redevelop the former Bank One Operations Center into 258 apartments and retail space. The project aims to add new residential units downtown and clean up a blighted building. Glick will use its apartment development experience, while Milhaus designed a public-private partnership for the city to acquire parking assets for the project without costs. Some have questioned if the city is taking on too much risk in overpaying for the properties.
Tishman Speyer restructured $1.4 billion in debt secured by five Downtown Chicago office properties. The restructuring agreement provides over $100 million for leasing commissions and tenant improvements. It also allows Tishman Speyer to directly invest $50 million into property upgrades. This enables Tishman Speyer to fulfill financial obligations and fund future leasing and building operations. Separately, McCaffrey Interests opened a new 198-unit apartment tower in River North with 40% of units already leased.
San Francisco Highlights Q1 2012 Tom Posertomposer
The technology industry continues to drive growth in San Francisco's office market in Q1 2012. Several large leases were signed at newly renovated buildings like 680 Folsom Street, where Salesforce.com, Macy's.com, and Riverbed Technologies will occupy significant space. Twitter's new headquarters at Market Square also captured tenants. Developers are renewing plans to build in the South Financial District to meet rising demand. Construction activity increased across the city, including renovations of several buildings and a new headquarters for the San Francisco Public Utilities Commission.
Kirk Thompson was skeptical when first told that Rocket Fuel planned to double in size annually for the next three years due to the immense challenge of rapidly hiring people and securing adequate office space. However, Rocket Fuel has grown from $2.3 million in revenues in 2009 to $240.6 million in 2014 while doubling in size in both 2013 and 2014. Thompson and his real estate team have worked tirelessly to find and build out new office spaces around the world, such as a 145,000 square foot headquarters in Redwood City, a 48,876 square foot office in San Francisco's Mid-Market district, and refurbishing a former telecom building in London, to accommodate Rocket Fuel's exponential growth.
In 2016, Chris Economou most recently held the title of Regional Manager for the nation’s largest publicly traded real estate investment firm, Marcus & Millichap. The firm completed over $38 billion dollars in investment sales in 2016.
The San Francisco office market saw increased leasing activity in the third quarter of 2013 driven by demand from the technology sector. Major lease transactions included Uber Technologies leasing 88,135 square feet at 1455 Market Street and Google leasing 50,218 square feet at 345 Spear Street. Meanwhile, investment in the office market slowed in the third quarter with only a few small sales transactions totaling $13.3 million. However, several large office buildings were put up for sale, which could provide investment opportunities. The technology industry continues to be the primary driver of the San Francisco office market.
Donald Trump plans to redevelop the weathered Doral Golf Course and Hotel in Miami into a luxury resort, investing millions. Gil Dezer is working with Porsche to build a futuristic condo tower in Sunny Isles Beach that will have glass elevators transporting residents and their cars directly into their high-end units. The 57-story Porsche Design Tower project is estimated to cost $560 million and will have 132 luxury units up to $9 million each with robotic parking for 284 vehicles.
Mark D. Walker is a senior vice president at Colton Commercial & Partners, Inc. The document provides a partial summary of his recent transaction experience representing both tenants and landlords. It describes numerous lease, sublease and sale transactions he has completed involving companies relocating or expanding their office space in San Francisco. The transactions involved spaces ranging in size from portions of floors to entire buildings and included negotiations for build-outs, rent amounts and other terms.
Mark D. Walker, a senior vice president at Colton Commercial & Partners, Inc., has successfully represented both tenants and landlords in leasing numerous commercial properties in San Francisco. Some of his recent deals include representing Bregante + Company in relocating their headquarters to a LEED certified building, and representing SWA Group in leasing space in the historic Federal Reserve Bank building. He has also leased several buildings to 100% occupancy through multiple tenant deals.
The Matrix Corporate Center in Danbury, Connecticut recently signed leases with two new tenants, Macromark and the Eastern Collegiate Athletic Conference, totaling 17,500 square feet of office space. An existing tenant, NewOak, also expanded by 10,000 square feet. The building is now 70% occupied. Matrix has invested $20 million in renovating the 35-year-old building, formerly the headquarters of Union Carbide, upgrading amenities and technology to attract tenants and position the property as a Class A office complex. The 1.3 million square foot building offers a variety of office space sizes along with numerous on-site services and amenities.
Leadership
Business savvy
Strategic focus
Quickly adapt
Productivity and Profitability.
Expert real estate development and construction
Broad P&L experience
Global project management,
Design-build ventures
Value engineering
Turnarounds
Startups
Joint ventures
Strategic alliances
Business development
Risk management
QC and cost control
Green facilities
CRM
Environmental controls and regulatory compliance
Master of the intricacies of complex mixed-use development and major design-build projects
Well-deserved reputation for turning troubled ventures into winners.
Blue is Boston's primary commercial office real estate market report, covering macroeconomic trends affecting availability and pricing of space in the Greater Boston market, and showing attractiveness of the market to the real estate investment community. Blue 2017.2 covers the quarter ended June 30, 2017.
The Class A office availability rate in Los Angeles fell from 19.5% to 19.2% in the first quarter of 2015, while overall availability remained steady at 18.0%. Strong leasing activity over the last six months totaled 10.1 million square feet, the best two-quarter period in years. Asking rents increased 1.7% overall and 1.5% for Class A properties. West Los Angeles submarkets saw sharp quarterly declines in availability rates and continued rent growth above other areas of LA County.
BIM helped Luxury Community Development in Florida, USAPinnacle Infotech
Luxury community development in Fort Lauderdale, Florida, USA implemented BIM. Apartments included 9-11 feet ceilings, balconies, walk-in closets, fitness center, gourmet kitchen and more. For more https://www.pinnaclecad.com/projects/paseo-del-mar/
Rollout ROYALty: KC firm excels at high-velocity national rolloutsJamie Leeper
Large scale rollouts and rapid deployments are the bread and butter of our Projects team. From nationwide fixture installation and reset projects, to partnering with global OEMs to roll out their products, our project managers and field technicians will get your project done on time and on budget with minimal disruption to your operations.
The document describes the commercial real estate team of Mark Krison, Luke Krison, and Carole Uhrig. Mark has over 33 years of experience specializing in office, flex-industrial, and data center projects totaling over $1 billion. Luke focuses on flex-office space leasing and sales. Carole provides sales and business management support. The team offers development, leasing, and investment services with a track record of successful projects throughout the Phoenix metropolitan area.
The Northwestern Mutual Tower and Commons - Select Media CoverageJohn Gardner, APR
Northwestern Mutual unveiled plans for a new $450 million, 32-story office tower in Milwaukee. The curved glass tower, designed by Pickard Chilton, will replace an existing 16-story building and reshape Milwaukee's skyline. It will provide space for Northwestern Mutual's 3,600 existing employees as well as an additional 1,900 jobs over the next 15 years. The development will also include a three-acre public space called the Commons. Construction is scheduled to begin in 2014 and be completed in 2017.
This document summarizes an article from USBuildersReview magazine about Broadway Mechanical-Contractors Inc. (BMC), a mechanical contracting company based in Oakland, California. It discusses BMC's history of over 100 years in the industry, current leadership of Fred and Ken Nurisso, and recent projects including plumbing and HVAC work for a large multi-tower development project in the Transbay area of San Francisco and a 27-story office building. It also notes BMC's strengths in design, fabrication, installation, and maintenance capabilities that help them succeed on complex high-rise projects in San Francisco's competitive commercial market.
- Legal and fashion firms accounted for 35% of leasing activity in 2Q15, driven by large deals from Chanel, Morgan Lewis, and Ralph Lauren. Overall leasing activity outpaced historical averages.
- Availability remained stable at 11.4% as new supply was absorbed, while average asking rents increased 6% year-over-year to $68.80 per square foot.
- Strong leasing in Midtown was led by renewals from Morgan Stanley and Bank of America, while new construction projects like One Vanderbilt saw increased interest. Midtown South leasing focused on new developments and prime neighborhoods.
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The Strategy Implementation System offers a structured approach to translating stakeholder needs into actionable strategies using high-level and low-level scorecards. It involves stakeholder analysis, strategy decomposition, adoption of strategic frameworks like Balanced Scorecard or OKR, and alignment of goals, initiatives, and KPIs.
Key Components:
- Stakeholder Analysis
- Strategy Decomposition
- Adoption of Business Frameworks
- Goal Setting
- Initiatives and Action Plans
- KPIs and Performance Metrics
- Learning and Adaptation
- Alignment and Cascading of Scorecards
Benefits:
- Systematic strategy formulation and execution.
- Framework flexibility and automation.
- Enhanced alignment and strategic focus across the organization.
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Linkedin slidesharemay2013-130511121725-phpapp01
1. Apr 29, 2013, 2:39pm PDT
LG Electronics plugs into SoMa
J.K. Dineen
San Francisco Business Times
Email | Twitter | Google+
LG Electronics is opening an office in San Francisco.
The South Korean multinational electronics company has leased out the first floor at 642
Harrison St., space that was previously occupied by Limelight Networks, according to Chris
Economou Director of Asset Management for PMI Properties. The lease is about 10,600 square
feet. Rent was $47 a square foot industrial gross, which translates to over $51 a square foot full-
service. “We are seeing really well-heeled tenants with strong credit,” said Economou, adding
that PMI recently reached deals with HOK and Adobe.
The Harrison Street happened quickly. “Limelight said they had found a bigger space and the
next day LG said they wanted the space,” said Economou. Mike McCarthy and Mike Monroe of
Colliers International represented the landlord. Conor Famulener of CBRE represented the
tenants. PMI bought the building in June of 2011 for $14 million. The landlord owns six buildings
South of Market and in Jackson Square totaling 350,000 square feet.
J.K. Dineen covers real estate for the San Francisco Business Times.
2. Adobe to take entire SoMa building it remembers well
Premium content from San Francisco Business Times by J.K. Dineen, Reporter
Date: Friday, December 14, 2012, 3:00am PST
JK Dineen - Reporter- San Francisco Business Times
Adobe Systems Inc. is coming full circle in San Francisco, grabbing the SoMa building that it
inherited when it bout MacroMedia for $3.4 billion in 2005.
Adobe signed a 10-year lease of 47,000 square feet at 410 Townsend St., commencing when
Yammer moves from the building on Jan. 31. Adobe intends to occupy the entire 74,000-square-
foot building as other leases expire, to Chris Economou Regional Asset Manager for PMI
Properties.
3. Over the past three years, 410 Townsend has reached near-legendary status among
SoMa’s crop of alpha startups, providing an early home to firms such as Yammer
Inc., Eventbrite Inc., Playdom Inc., and Zendesk.
The building, across the street from the Caltrain Station, has gone from 40 percent
occupied in late 2008 to 100 percent occupied today. During that time, rents have
Jumped from the low $20s a square foot to the low $50s.
With the lease, PMI’s six-building, 260,000-square-foot San Francisco portfolio is 100
percent leased. “It a very competitive market. Adobe represents a strong credit tenant
and we are happy with the result,” said Economou.
The Adobe lease is the latest in a steady drumbeat of technology leases announced in
the fourth quarter. These deals include Square’s 250,000-square-foot commitment at
1455 Market St., Meraki’s 111,000-square-foot lease at 500 Terry Francois
Blvd., SquareTrade’s 54,000-square-foot deal at 360 Third St. and Splunk’s 30,000-
square-foot expansion at 250 Brannan St.
Adobe employees moving to Townsend Street will include the Omniture group, which
is now at 250 Brannan St. in space that Splunk is taking over.
“If you go into that building, there is a wall of fame and it starts with MacroMedia,”
said Economou.
4. Adobe employees moving to Townsend Street will include the Omniture group, which
is now at 250 Brannan St. in space that Splunk is taking over.
“If you go into that building, there is a wall of fame and it starts with MacroMedia,”
said Economou.
Colliers International SoMa team — Mike McCarthy, Mike Monroe and Brian McCarthy
— represented PMI. Carter Beim, also of Colliers, represented Adobe.
PMI Properties purchased the 410 Townsend building in 2006 from ROK Properties for
$16.8 million. Based on recent comparisons, the building is now probably worth north
of $35 million.
5. Tech Boom Drives Turnover At Popular SoMa Address
By PUI-WING TAM
JULY 14, 2011
For a sign of how the region's technology boom is progressing, consider the growth going on at
just one San Francisco building that has attracted start-up tenants.
A year ago, the 75,000-square-foot building at 410 Townsend St., near AT&T Park, had filled to
capacity with young tech companies, after hovering at a 60% vacancy rate in late 2008 as the
financial crisis hit. Now many of those start-ups have grown so much they have had to move
out to bigger digs, while some remaining tenants have cannibalized the space.
Yammer
Microblogging service Yammer is expanding its offices at 410 Townsend as other companies
move out of the building.
"In 30 years in real estate, this is the fastest-growing building we've ever had," said Chris
Economou, the San Francisco leasing manager for PMI Properties, the landlord for 410
Townsend. "We've never had start-ups that have gone from 10 people to 200 so fast." He adds
that PMI is now able to charge rents of $34 to $35 a square foot at the property, up from $18
to $20 a square foot 18 months ago.
The boom at 410 Townsend underscores how the Bay Area's latest tech boom has gone from
The Wall Street Journal
6. While 410 Townsend stands out for its high-profile tenants, nearby buildings in the South of
Market neighborhood are drawing similar interest, real-estate professionals say.
Among the companies that have moved out of 410 Townsend because they got too big are
online ticket seller Eventbrite Inc., which shifted to a 30,000-square-foot office in February after
outgrowing its 10,000-square-foot space at the building. Help-desk software company Zendesk
Inc. also is relocating to a 17,000-square-foot space in a month or two because it, too, is
bursting at the seams.
Their departures will allow an existing tenant, microblogging service Yammer Inc., to remain at
410 Townsend but grow. Yammer earlier this year nabbed Eventbrite's old office and now plans
to take over Zendesk's space, beefing up its presence to 30,000 square feet from 10,000 square
feet a year ago. "We outlasted everyone," jokes David Sacks, Yammer's chief executive. "We
were all waiting for each other to move out. It's been a game of chicken."
Meanwhile, tech blog TechCrunch, also a tenant at 410 Townsend, was bought by AOL Inc. last
September for tens of millions of dollars. Kevin Hartz, CEO of Eventbrite, said his firm has grown
to 155 employees from about 80 a year ago, and he expects to hit 200 people by year's end.
"We're in a constant hiring state now," said Mr. Hartz.
Mikkel Svane, Zendesk's CEO, said he deliberately sought a new office that has options for
expansion as his company racks up 30% quarter-over-quarter revenue growth, driven by
customers like Groupon Inc. and others. With 90 employees today, he expects to reach 140 by
year's end.
While at 410 Townsend, "it was very inspiring to be a part of the building because we were all at
a special stage of our lives," said Mr. Svane, who is relocating Zendesk to San Francisco's Mid-
Market area and can take advantage of a new payroll-tax exemption aimed at revitalizing the
area. "But now we need to grow out. It's all a part of our life cycle."
7. HKS, Hill Glazier Studio merge in San Francisco office space
Premium content from San Francisco Business Times by J.K. Dineen, Reporter and Blanca
Torres, Reporter
Date: Friday, October 19, 2012, 3:00am
Five years after Palo Alto-based architect Hill Glazier Studio got engaged with HKS Architects
through a corporate merger, the two are moving in together.
HKS and HKS Studio have leased about 9,500 square feet at 539 Bryant St. and will operate as
one firm. The company has been growing, hiring well-known San Francisco architect Thomas
Sprinkle, who was recently design and managing principal with ROMA Design Group. He was
previously with SOM, Hornberger-Worstell and SB Architects. Sprinkle led hospitality projects
such as the Ritz-Carlton Hotel Bahamas at Rose Island, the Sheraton Hotel Ka’anapali on Maui
and the Hard Rock Hotel in Palm Springs. His Bay Area condo projects include the 88 in San Jose
and the Union SF in the Mission District.
The new office will have about 30 people — 16 from HKS and 14 from Hill Glazier. The building
is owned by PMI Properties, which was represented by Colliers International SoMa team. Jak
Churton and Shap Roeder of CBRE represented the tenant.
8. In addition, HKS has been bulking up its commercial interiors, hiring Alvaro Rodriguez
from Gensler. Associate Principal Brendan Dunnigan said that the firm is taking
momentum from its restoration of the historic 50 United Nations Plaza to go after
more interiors work. Recent office interior assignments include Constellation Wines,
which is building out a 50,000-square-foot space in Levi’s Plaza. Other HKS projects
include Martin Building Co.’s condo developments at 178 Townsend St. and Potrero
Launch. HKS is working with Crescent Heights on 45 Lansing St., a highrise on Rincon
Hill that was stalled during the recession but is now very much in play. Dunnigan
expects 45 Lansing to break ground next year.
Dunnigan said the new joint office will allow the firm to bring the high-end hospitality
aesthetic Hill Glazier is famous for to all projects.
“We want to infuse all projects with lifestyle amenities to create the level of comfort
you would expect at a resort,” he said.
9. Big Race for Space in SoMa
JANUARY 26, 2012 By PUI-WING TAM
Start-Ups Quickly Came Calling When 642 Harrison Was Bought by PMI Properties in August,
Just as Prices Began to Take Off For a taste of how heated San Francisco's South of Market
neighborhood has become, consider the eventful year that the four-story building at 642
Harrison Street just went through.
The 50,580-square-foot property went up for sale last year and attracted around a dozen
interested buyers, including publicly traded real-estate investment trusts, or REITs, according to
investors and real-estate executives. Los Angeles-based private investment firm PMI Properties
ultimately snagged the building for $13.3 million, just as the area's property prices soared.
Within days of closing the purchase in August, PMI had numerous technology start-ups
interested in leasing the building's empty 12,710-square-foot second floor. Around a half-dozen
start-ups submitted offers, driving the rent up to an average $39 a square foot, exceeding PMI's
expected $35 a square foot.
By this month, 642 Harrison Street's second floor was leased to energy-software start-up
10. Opower Inc., which had been searching since last May for more space. "Looking for space
here can be really demoralizing" because of competition for offices, says Ling Ling
Yee, Opower's manager of West Coast operations. "It's really a huge relief" to be done with
the search, she says.
The activity at 642 Harrison Street underscores the ascendancy of the SoMa neighborhood
amid the resurgent local tech economy. Filled with funky office buildings that were formerly
warehouses, SoMa was a destination for young tech firms during the late-1990s dot-com
boom, but tanked after the dot-com bust. In the past two years, the neighborhood has once
again become one of the Bay Area's hottest, populated with fast-growing companies such as
social-games maker Zynga Inc.
SoMa's office vacancy rate has dropped to 11.9% from 18.7% two years ago, putting it at its
lowest level since early 2001, according to real-estate firm Cassidy Turley. Meanwhile, rents
for top-tier SoMa office buildings now average $50 a square foot, up from the mid-$30s a
year earlier, according to Cornish & Carey Commercial Newmark Knight Frank. Those rents
exceed San Francisco's Financial District, where rents for comparable space hover around $42
to $43.50 a square foot.
Opower's Ling Ling Yee at 642 Harrison Street, where the energy-software company has
leased the second floor at an average $39 a square foot for three years, more than the
building's owners had expected to get.
The demand for SoMa space has in turn drawn numerous property buyers, who are
renovating buildings to create more office space. REITs such as Kilroy Realty Corp. bought four
SoMa office buildings in 2011 for around $258 million, while Hudson Pacific Properties Inc.
acquired two properties in the neighborhood last year for around $68 million.
SoMa is "one of the very few bright spots" in the commercial real-estate world, says Frank
Fudem, a senior vice president at Cassidy Turley. "It's like we're defying gravity."
11. "My first impression of 642 Harrison was, this is it," says Ms. Yee. "It hit all the right things and
was well located and the right size."
To win the space, Ms. Yee knew she would have to fork over higher rent. While Opower was
paying in the mid-$20s a square foot for its old office, Ms. Yee and her brokers courted PMI
with an initial offer of $35 a square foot. They slowly moved up the price to an average of $39
a square foot for a three-year lease. Opower's brokers also sent PMI press clippings about the
start-up and showed PMI the company's financials.
Choosing a second-floor tenant ultimately boiled down to Opower and a daily-deals site, says
Mr. Palmer, who declined to name the daily-deals company.
"I thought it would be more difficult to sell a daily-deals site to our lenders," he says, so PMI
went with Opower. "We got a higher rent than we forecast, so it was a good outcome."
The building at 642 Harrison Street, constructed in 1925, went through phases as a coffee
factory and condo project, says Daniel Cressman, a Grubb & Ellis Co. executive vice president
who has sold the property three times over 30 years, including to PMI last August. The previous
owner, a group of individuals, decided to sell last year after unsuccessfully trying to turn the
building into condos, he says.
Jeff Palmer, a managing partner at PMI, which owns three other SoMa buildings that are mostly
filled with tech start-ups, says he wanted to buy more SoMa properties because of the demand
and relative value in the area. "We knew there was a good market because most of our tenants
[in other SoMa buildings] were expanding," he says.
12. PMI to add to SoMa portfolio with 642 Harrison buy
August 1, 2011
By: J.K. Dineen staff writer
Investor PMI Properties is in contract to grab another piece of San Francisco’s South
of Market neighborhood, agreeing to pay $14 million for 642 Harrison St.
When the acquisition is complete, PMI will own six buildings South of Market and at Jackson
Square totaling 350,000 square feet. The portfolio is 100 percent occupied, and PMI is looking
for more buildings to buy, according to Chris Economou, asset manager for PMI Properties. The
seller was a private investor who had contracted with Ellis Partners to manage the property.
Daniel Cressman of Grubb & Ellis represented the seller.
“642 Harrison is a stable asset in one of the strongest submarkets in the country,” said
Economou. “It’s a natural fit for the PMI portfolio, our SoMa buildings are 100 percent leased
with a waiting list,” said Economou.
13. PMI adds to its South of Market space
Date: Friday, January 7, 2011, 3:00am PST
By: J.K. Dineen staff writer
Investor PMI Properties has continued its expansion into San Francisco’s South of Market
neighborhood, paying $9.8 million for 625 Third St., a 42,000-square-foot building that is fully
occupied by Ubisoft.
“625 Third St. is a single-tenant deal but is a natural fit for PMI in that it’s tech-based, creative
space,” said Chris Economou asset manager for PMI Properties.
With the acquisition, PMI now owns five buildings South of Market and at Jackson Square
totaling 300,000 square feet. The portfolio is 100 percent occupied, and PMI is looking for more
buildings to buy, according to Chris Economou, asset manager for PMI Properties.
“We are 100 percent occupied and we have tenants that are expanding and growing and we
need more space to put them in,” said Economou.
14. The deal was completed at the end of the year amid a flood of transactions. In
December, investors pumped some $500 million into downtown property, a cascade of
transactions brought on by a looming tax hike, low interest rates and a growing pool of investors
targeting downtown San Francisco. On Dec. 16, the day before San Francisco’s transfer tax
jumped from 1.5 to 2.5 percent for deals over $10 million, the city logged $325 million in
transactions.
This included $134 million in acquisitions by Hudson Pacific Properties, which bought both 1455
Market St. and the office portion of Rincon Center. In addition, Patelco sold
15. By: PUI-WING TAM
April 10, 2010
Start-Up Village Emerges in SoMA's 410 Townsend
The technology start-up scene is rebounding strongly from the recession. That's evident at 410
Townsend Street in San Francisco's South of Market neighborhood.
The 75,000-square-foot office building was about 60% vacant in late 2008 when the financial
crisis hit and one of the property's major tenants moved out. Now the landlord, PMI
Properties, says the building is 100% full with Internet start-ups such as microblogging service
Yammer Inc., online ticket seller Eventbrite Inc., online gaming company Playdom Inc. and help
desk software company Zendesk Inc.
All of the start-ups moved in within the last year. And many are now bursting at the seams as
they grow more quickly than expected. "We've got a competition with Yammer to see who will
outlast the other in this building and get the other's space," says Kevin Hartz, chief executive of
Eventbrite, which has seen its staff grow from 25 last year to around 70 people now. "It's a
death match."
16. The activity at 410 Townsend reflects Silicon Valley's broader tech recovery. As
demand for tech goods picks up, venture-capital financing is ramping up and start-ups
are recruiting new hires. That has fueled the ferment in SoMA, a hip start-up
neighborhood that is home to Twitter Inc. and others. The area's office vacancy rate
peaked in last year's fourth quarter at 30.5% and has since eased to 28.2%, while
average asking rents per square foot have risen to $28.57 from $27.69 late last
year, according to real-estate firm Cornish & Carey Commercial.
Jeffrey Palmer, a partner at PMI Properties, says the firm deliberately sought tech
tenants for 410 Townsend to cluster them together. Each of the 10,000-square-feet
office suites in the four-story building have exposed brick walls, kitchens and state-of-
the-art Internet connections.
Yammer and Eventbrite were the first of the new crop of start-ups to move into 410
Townsend last August. Eventbrite CEO Mr. Hartz and Yammer CEO David Sacks are
friends who invested in each other's companies. Zendesk arrived in August, followed
by Playdom late last year.
In March, networking and security start-up OpenDNS moved in, as did e-commerce
company Shop It To Me Inc. In June, tech blog TechCrunch relocated from Palo Alto to
410 Townsend.
Zendesk CEO Mikkel Svane says the building's location—a block from the Caltrain
station—is a plus, and prospective hires often go from one start-up interview in 410
Townsend to another.
The downside: "That makes it awkward when someone you turned down [for a job]
ends up working in the building," says Yammer's Mr. Sacks.
17. San Francisco Chronicle
Software startups thrive in SoMa
Tom Abate, San Francisco Chronicle Staff Writer
Saturday, May 1, 2010
In San Francisco's South of Market neighborhood, Internet-based software startups are thriving
despite the worst downturn to hit California since the Great Depression.
"The economy in many ways has been a perfect storm for us rather than against us," said Charlie
Graham, founder of Shop-ItToMe.com, which alerts consumers to sales on desired items -
capitalizing on the trend of recession-induced frugality.
Graham's 15-person firm is the newest tenant at 410 Townsend St., a building that houses other
Web-based startups including Eventbrite.com. The 50-person staff of Eventbrite helps live-
performance venues - anything from school plays to corporate seminars - sell tickets online.
"We're all entrepreneurs in the same boat," said Eventbrite CEO Kevin Hartz, 40. "We share and
contribute to each other's companies."
The ferment in this SoMa building is a microcosm of a larger dynamic that gives San Francisco a
chance to lead in one of technology's most bullish sectors - the sale of software as a service.
Software once was distributed on disks, but the growth of the Internet has spawned a universe
18. "It's like the phone book," Ulevitch said of DNS.
Most people and companies get DNS service from the same vendor that provides their Internet
connection but, just as with e-mail, Ulevitch said this addressing function can be delegated to a
speciality firm like OpenDNS.com that offers additional services. He said the company built its
business by allowing parents to selectively block children from visiting undesirable Web sites.
"We have 20 million consumer customers," he said. "We've been profitable since 2007."
Ulevitch recently moved his 25-person firm into SoMa from an office in the Financial District
partly because his neighbors were simpatico - young people who dressed casually and worked
startup hours in contrast with the Financial District's suits and 9-to-5 routine.
"There is a vibe of people here working hard and working late," said Ulevitch, who says his goal
is grow prudently rather than hire willy-nilly and have to pull back later.
Prudent growth
Other SoMa startups profess the same discipline, hoping not to repeat the excesses of the dot-
com era. Graham, ShopItToMe's 35-year-old founder, said he and two collaborators
bootstrapped the company until it became profitable, and only then sought angel and venture
capital investments.
Hartz said San Francisco has shortcomings as a business destination.
"It's hard to get our daughter into preschool. The word is you had to apply in utero," he
quipped, voicing what is likely a common concern given the industry's youthful workforce.
But he also thinks San Francisco's creativity may attract more software development despite its
taxes and other costs.
"It was always like Palo Alto and south was the place to be but now there's been this shift up to
the city," Hartz said.
19. of applications that can be hosted on centralized computers and sold on a fee-for-service basis.
Hartz cited Salesforce.com - which develops business applications - and the online game
developer Zynga as two San Francisco-based software-as-a-service companies that prove the
city can rival Peninsula and South Bay locales as headquarters for large tech firms.
S.F. specialist hub
"San Francisco is where everything happens in this regard; this is where you have all the good
talent and the actual experience," said Mikkel Svane, chief executive of Zendesk.com, a
customer service operation that he co-founded in Copenhagen in 2007.
Svane said Zendesk had 10 people when he relocated to SoMa in September.
"We are now 40 and will be 70 by the end of the year," he said.
Svane, 39, said San Francisco has a pool of software engineers skilled in Web development
environments like Java, PHP and Ruby on Rails - although companies like his are starting to hire
aggressively enough to begin complaining about shortages in these fields.
'City of misfits'
The city is also replete with specialists in marketing, social media, customer service and design
- skills essential to attracting and serving user communities. Within San Francisco, SoMa has
the advantage of being close to Caltrain, a plus for attracting techies from the Peninsula while
remaining accessible to potential East Bay hires.
David Ulevitch who came to San Francisco in 2004 after graduating Washington University in
Saint Louis, is another example of the entrepreneurial influx that is turning SoMa into a
software foundry.
20. "I always knew I was going to live in San Francisco," said Ulevitch, 28. "I always saw it as a city of
misfits where I thought I could fit in."
In 2005 Ulevitch raised $2.5 million to found OpenDNS.com, a company focused on a niche that
couldn't have existed until the Web became a mass medium.
DNS is short for domain name system, the addressing function of the Internet. Users most
commonly experience DNS as the rectangular field atop their browser software where they type
in the address of the location they want to visit. The underlying network system locates the
desired Internet resource and delivers the requested information.
21. Travel mag AFAR takes short trek to new office
Premium content from San Francisco Business Times by J.K. Dineen and Blanca Torres
Date: Sunday, May 9, 2010, 9:00pm PDT - Last Modified: Thursday, May 6, 2010, 12:01pm
The glossy new travel magazine AFAR looked far and wide for a new office. And found one
at 394 Pacific Ave. — around the corner from its current office.
AFAR Media, which has been sharing space with Dwell Magazine at 40 Gold St., has leased
a full floor in the building, which is owned by PMI Properties, according to Chris
Economou of PMI. The magazine promotes “experiential” travel — “immersive cultural
experiences based on connection and understanding,” according to the company’s web
site.
In addition, PMI has leased a full floor in the building to web site-building-company Yola.
The two leases together add up to 17,780 square feet. The building is now 100 percent
leased. Mike McCarthy and Mike Monroe of Colliers International represent the landlord
in the deals. Yola was represented by Charlie Jackson of Jones Lang LaSalle. Tony Zucker of
Jones Lang LaSalle represented AFAR.
22. PMI Properties' S.F. acquisitions on a roll
May 13, 2007
Premium content from San Francisco Business Times by J.K. Dineen
Los Angeles-based PMI Properties has added to its San Francisco portfolio, grabbing 539
Bryant St. for $14.9 million.
The deal is the latest in a string of bets PMI has placed on buildings perfectly placed to
capitalize on the city's Web 2.0-fueled recovery. With 55,000 square feet and ample parking,
the Bryant Street property brought in $271 a square foot. Chris Economou and Mark Mason
of Marcus & Millichap represented both the buyer and the seller.
In the past six months, PMI has acquired 410 Townsend St. and 394 Pacific St. and is close to
grabbing another SoMa property.
"They look for recovering markets and their core is Los Angeles and San Francisco," said
Economou. "They do creative office very well."
WR Hambrecht has its headquarters in 20,500 square feet on the ground floor of the building,
but its lease expires at the end of 2007. Other tenants include Handheld Entertainment, Tech
23. Mayor Lee Celebrates Official Opening of Opower’s New San Francisco Office with
Ribbon Cutting Ceremony at PMI Building – 642 Harrison Street
Company's Growth Continues in California
San Francisco, Calif. – May 22, 2012
Opower, the leader in energy information software for the utility industry, hosted a special
event today with San Francisco Mayor Ed Lee. Mayor Lee was on hand to join Opower’s
President and Co-Founder Alex Laskey and Steve Malnight, PG&E’s Vice President of Customer
Energy Solutions, to celebrate the official opening of Opower’s new San Francisco office. The
event included a ribbon cutting ceremony, reception and walking tour of the company’s new
state-of-the-art office space.
24. "I'm excited to be here today to celebrate the opening of Opower's San Francisco office," said
San Francisco Mayor Edwin M. Lee. "Opower is an example of an innovative clean tech company,
which is creating new green jobs for our residents. San Francisco is the ‘Innovation Capital of the
World,’ and best exemplifies the intersection of clean tech, social media and sustainability."
"We’re thrilled to welcome another forward-thinking company creating clean tech jobs in San
Francisco and are proud to have them as a customer,” said Steve Malnight, Vice President of
Customer Energy Solutions with Pacific Gas and Electric Company. "We work with Opower every
day to help our customers become more energy efficient, to help them save money, all while
helping achieve California's goals of a cleaner, more sustainable energy system."
“Opower is delighted to be joined by San Francisco Mayor Ed Lee and PG&E’s Steve Malnight to
commemorate the opening of our new office space in San Francisco,” said Alex Laskey, President
and Co-founder of Opower. “We are delighted to join the ranks of other clean tech companies
that have come to this city in pursuit of its world-class talent and political leadership– and our
California-based team continues to grow and flourish. We are also very proud of our record of
success working with PG&E and other leading utility companies to help Californians take control
of their energy usage and become more efficient in the process. Together, we are delivering
meaningful savings for the people of San Francisco and all across the State – helping to reduce
wasted energy in their homes, lowering their carbon footprint – and saving them money in the
process.”
Over the past year, Opower has expanded their business domestically and internationally; they
now partner with more than 70 utilities in 25 states and in four countries. In California, Opower
partners with a number of utilities throughout the state, including Pacific Gas & Electric (PG&E),
City of Palo Alto Utilities and Sacramento Municipal Utilities District (SMUD); a full list can be
found online here. The company has doubled its team to more than 250 employees – 55 of
25. whom are based in the company’s rapidly growing San Francisco office.
The company has also announced two major partnerships that will help enhance and expand
the company’s scale and services in new and existing markets. Last month, the company
officially launched the Opower social energy application, a new joint effort with Facebook and
the Natural Resources Defense Council (NRDC) to use the power of social networking to raise
consumer awareness about energy consumption. Opower is also working with global control
technology giant Honeywell to launch a Web and smart phone connected programmable
thermostat to help households better control their energy usage and save money.
Since its founding in 2007, Opower has driven more than one terawatt hour of energy savings –
more than enough energy to take a city of 200,000 residents “off-the-grid” for a year. The
company has cumulatively saved consumers in the U.S. more than $100 million on their energy
bills, and helped to abate roughly 1.5 billion pounds of carbon dioxide emissions.
26. Google Buys PMI Tenant Contextual Rich Startup Apture To Beef Up Chrome
LEENA RAO
Thursday, November 10th, 2011
Google has acquiredApture, a startup that brings instantaneous search to content on
the web, we’ve confirmed with both companies. Financial terms of the deal were not
disclosed. Launched in 2008, Apture has raised $4.6 million from Beau Vrolyk, Paul
Maritz, Steve Taylor, Clearstone Venture Partners
Harris and Can Sar, Apture developes ‘Apture Highlights,’ a browser extension that
aims to plug the “search leak” that the company says is taking place with content on
the web. Apture highlights a search leak as when a users is reading content, wants
more information about a keyword or phrase and then opens another browser tab to
search for the information on Google, Bing or Yahoo. The downside for the content
publisher is that the user disengages with the actual content by leaving the page.
Apture Highlights allows you to highlight any word or phrase on a page and instantly
bring up search results in a window. The startup brings results from 60-plus sources
including YouTube, Twitter, Wikipedia, Google and more for extra context around
content. The browser add-on is available for Chrome, Firefox and Apple’s Safari
browsers. In fact, more than a billion pages a month are enhanced with Apture, says
Harriss
27. Apture’s business model also offered publishers a white-label version of Apture
Highlights, which is being used by Scribd, The Financial
Times, Reuters, Economist.com, ScientificAmerican, BleacherReport.com, and Times of
India. Publisher simply insert a line of Javascript code, and readers can then access an
HTML-based overlay that acts like a minitiature browser that enables readers to find
and explore related multimedia content without leaving the original page.
The virtue of using the technology for publishers is that content sites are increasing
their search volume and site page views by driving traffic to related articles for every
search. Consumers actually stay on a publisher page with Apture two to three times
longer than without the plug-in.
The company also recently launched HotSpots, which allows Apture to populate
hyperlinks on the fly on any page on the web. Publishers have to add one line of code
and hyperlinks will appear for readers without publishers having to link. The links
point to Apture overlays which give a range of data to a reader without them having to
leave the page: Wikipedia, CrunchBase, search results, maps, etc.
In an interview today, Harris explained that when he started the company back in
2007, he felt that there was an incredible opportunity within the medium of the web
to find contextual information to help you understand what you are looking at on a
webpage. Harris wanted Apture to become part of the ‘fabric of the web’.
But in the past few years, Harris says that he realizes that the browseritself is part of
28. the medium that will shape how information is really accessible. “You can’t talk about making
information accessible without talking about the web browser,” he explains.
With that thought in mind, when Google approached Harris and the company over the past
few months with an acquisition offer, the integration made sense. Combined with google’s
own mission of making information accesible, “the Chrome platform has 200 active million
users a month and that’s a huge scale that Apture’s technology could reach,” says Harris.
Google says of the acquisition, “We were impressed by the Apture team’s approach to
enhancing the web browser experience, and we think their expertise will complement the
Chrome team’s efforts in this area.”
The Apture team, which is composed of ten employees, will be joining the Google Chrome
team improve user experience. Google says that Apture’s plug-ins and white-label technology
will be shut down within next month or so.
Harris says, “We’re bringing all things we’ve been doing and a lot more to the Chrome team.
With the growth of Chrome as a browser, it’s clear why this acquisition make so much sense,
and who else would you want to partner with to the change-up fabric of the internet? We’re
going to make browsing much more than it’s ever been and it’s really exciting.”