Built together
in San Francisco.
A stronger SF HQ outcome — the partnership, the plan, and the path forward.
Stream leads. Resource unlocks local leverage.
One team, one plan — Resource strengthens Stream's position — we don't overlap with it.
Long-term space planning and occupancy strategy tied to headcount growth and financial planning
Real-time insight into market activity, local relationships, and off-market opportunities
Block-by-block market intelligence that helps identify & build leverage — and flag risk (loan defaults)
Full occupancy-cost analysis, including rent, operating expenses, local business taxes, concessions and build-out exposure
Market tours
LOI & lease negotiation process
Transaction management & closing
Lease database administration
Tenant representation & advocacy
A partnership already proven at 71 Stevenson.
Resource led Peregrine's HQ lease at 71 Stevenson — a durable headquarters through April 2028.
Expansion aligned to the original lease clock, creating one coordinated 33,702 RSF platform.
Below market base rent, rent abatement, shorter lease term, an option to extend, and termination flexibility.
Strategic planning as Peregrine scales toward its next SF footprint.
The risk of leasing a new HQ without a strategy
Three questions most companies don't ask until it's expensive.
What does headcount really look like in 36 months?
A multi-year lease signed against a single-point guess. Too big, and you pay for empty desks. Too small, and you need to move before your term is up.
Model growth in ranges, then structure flexibility (expansion, contraction, phased take-down). Translate these scenarios into functional floor plans.
Are we forecasting the total cost of occupancy, or just rent?
Rent is a fraction of the whole figure — it’s OpEx, escalations, TI shortfall, FF&E, and restoration. The lowest $/SF rent could be the most expensive long-term deal.
Normalize every option to one figure: all-in cost per seat, per month, across the full term. Model project costs and operating costs alongside rent.
Does your site survey use hyper-local intelligence?
San Francisco isn’t one market. Pricing shifts block to block and class to class. Citywide vacancy is a misleading headline — top-quality space is still at a premium.
Underwrite at the building level: ownership, exposure, real comps, and which landlords are motivated right now.
Rent is a transaction. Occupancy is a strategy.
71 Stevenson: stay or relocate.
At 39.9% vacancy the building has room to grow in place — but seats, company culture, and business goals drive the call.
Extend at 71 Stevenson
No relocation disruption; leverage existing build-out & furniture. Buys time & reduces commitment.
39.9% vacant — direct, sublease & coworking floors open to expand in place
Known landlord and a coordinated April 2028 clock
33,702 RSF ≈ 218 seats / 240 max — capacity hit by mid-2026
Expansion terms must still be negotiated to reach ~340 seats
Bottom line: either path works — be ready to decide by May 6, 2027. Resource builds the side-by-side so the choice is made on full information, not the clock.
Market opportunities
Five buildings where a master lease or an anchor tenant's downsizing has created large blocks that aren't being marketed as such.
| Building | Floors | Size (SF) | Available | Situation |
|---|---|---|---|---|
| 430 California St | 11–19 | 123,320 | Oct 2029 | Rippling in occupancy |
| 8, 9, 10 | 42,550 | — | Rippling expanded here — master lease on the full building; signage and residual value | |
| 350 Bush St | 1–7 | 140,055 | Feb 2029 | Twitch downsized, sublet the upper floors, retained ground and lower |
| 10–16 | 145,215 | Sept 2029 | Atlassian in occupancy | |
| 17–19 | 52,869 | Feb 2029 | Publicis leased direct and sublet to High Note; still on 17 | |
| 350 Mission St | 10–12 | 53,764 | May 2030 | Yelp sublease under a Salesforce master lease — clear path to a 250k+ SF block |
| 6–9, 14–23 | 251,000 | — | Sephora in sublease | |
| 222 2nd St | 9–15 | 154,450 | Q2 2027 | LinkedIn master lease, sublet to multiple subtenants; private deck, large open kitchen |
| 100 First St | 4–9, 10–11, 14–15 | TBC | — | Okta sublet to Decagon & Hive — floor count to confirm |
| 8 blocks identified | 963,223 | Excludes 100 First St, where the block size is still to be confirmed | ||
Source: Resource large-block survey. Rate, lease structure, and term columns pending — table to be fully updated 7/30.
The five buildings, mapped around Peregrine's current HQ at 71 Stevenson. Click a marker for block details.
Matched to your headcount and your budget.
We link headcount forecasts → seat capacity → portfolio cost trajectory, so the space fits the plan and the P&L.
FY26 goal: +300 FTE. ~140 net hires since Mar 2025; +260 over three years.
Target ~340+ desks by Q3/Q4 2026, with a layout that flexes for onboarding, training and the engineering "ship room."
3–7 year term, CBD, creative open plan, flexible layout, with natural light and transit access.
Small overages add up to large expenses.
Complete cost analysis before any commitment — rent is only part of the cost.
Live planning model — adjust growth, density, and runway, or test a new space. On the July 27 midpoint case, SF doesn't outgrow 33,702 sq ft until ~Feb 2029 — the lease clock, not size, is the binding constraint. Demand inputs are internal reports — need confirmation.
