14
October
2011
|
11:35 AM
America/Los_Angeles

Local SF Economy Is Booming, Office Space Search...

San Francisco Chronicle reports that 40 tech companies are searching for 2 million square feet of office space, the "equivalent of nearly four Transamerica Pyramids" says Mayor Ed Lee.

The article profiles a company called Idle Games, which is equipping an office space for 185 staff. The company,

designs games for Facebook, one of which is called "Idle Worship," "the world's first polytheistic god game with exploding bunnies."

The company, founded in 2009, has until now "flown under the radar," co-founder and CEO Jeffrey Hyman told me. It's leased 33,000 square feet at 875 Howard St., across the road from the Intercontinental Hotel.

But it's not just startups that are looking for more office space. Booz Allen Hamilton, the consulting firm is also expanding its San Francisco office.

Please see: S.F.'s South of Market a tech magnet

Foremski's Take: It's good to see that the broader market and financial services problems of the economy are having less of an effect in San Francisco. Startups are on a different growth schedule than more mature businesses and can look forward to a payback in two or more years, at which time better times might be in progress.