Allen Matkins Represents Kennedy Wilson Joint Venture in Massive WeWork Lease

Allen Matkins partner Erin Murphy represented the joint venture between Kennedy Wilson and Takenaka Corporation in its 251,722 square foot lease to WeWork at 430 California Street in San Francisco. This is WeWork’s first full-building lease in San Francisco – occupying all 20 floors – and one of the City’s largest leases recorded in 2018. The lease deal comes just over a year following Kennedy Wilson and Takenaka’s acquisition of the property that, at the time, was 100 percent occupied by MUFG Union Bank. The joint venture engaged Gensler to lead a multi-million-dollar interior renovation and repositioning of the property as MUFG Union Bank vacates the building, including modernizing the lobby with an updated layout, materials and lighting while adding building-wide amenities and maintaining enough leasable area to add food and beverage retailers to the ground floor. WeWork plans to open its first phase at 430 California Street in Q1 2019. The office tower provides excellent views of the San Francisco skyline, with a 10,000 square-foot deck over the roof of the adjacent bank branch and two additional exterior decks. The property is conveniently located in the heart of the Financial District with close access to the California Street cable car line, two BART stations, and within walking distance of the new Transbay Transit Center as well as the Ferry Building. Read more about the deal here.