San Francisco’s tech real estate market has taken one hit after another, but SAP is making a welcome appearance.
According to SF Gate, SAP plans to open a “30,000-square-foot office in SoMa on Thursday.” The new office space will house 500 of the company’s 3,500 Bay Area employees.
“San Francisco is the capital of the tech industry and one of the top global markets for talent,” said Yaad Oren, the managing director of SAP Labs US. “It is a vital region. SAP is doubling down on our commitment to this epicenter of innovation with our newest office and this next-generation approach to work.”
“We’re helping deliver the promise of an intelligent, sustainable enterprise with our customers by nourishing relationships with the top technology firms associated with the Silicon Valley,” Oren added.
The announcement is a welcome one for San Francisco as a number of companies have closed or sub-leased their offices in the wake of the pandemic. As more employees have adopted remote and hybrid work, there’s no longer the demand for office space that there once was.
SAP’s investment in San Francisco could well spur other companies to return.