- You own Transbay Tower,
ignore whether you have
the capital structure or not to build it,
just assume you're going to have
the capital structure to build it,
would you build Transbay Tower,
actually try to prelease it starting now,
and have it be completed in three years?
- I do feel that you will start to see
the demand from obviously tenants also,
the ability to go
vertical in the tech world
which has not been necessarily
a proven entity yet
which is now starting to be,
and the ability to attract
the FIRE sector, so I do believe
that there will be enough
pent-up demand to satisfy the apartment,
so I would say yes.
- What's your thought on
yes, I'd like to buy more,
is that true, and then
secondly when do you
stop sort of buying?
When is this going to end?
It's got to end at some point?
- I still have been looking in the city
and in Northern California, as we know.
There are definitely a finite number
of opportunities right now which means
you have to get your feel
a little bit dirtier,
and to really dig deep
and do off market deals,
which again, is not easy to do.
Everyone has established relationships
with landlords and owners in the city,
so it's just harder, and
harder, and harder to do.
You gotta work at it, and
I believe that our growth
in the city will definitely
be slower this year
from an external standpoint
in terms of acquisitions,
and we will be looking
at some other markets.
- Where might it head
next or is it pushing next
what might be the next hot market and why?
- Overall, people need to be in the city
because that is where they
can attract the talent
and employee base, so as a result,
you're going to see a natural
expansion of the boundaries.
I know one market which was always kind of
a little bit on the edge,
we didn't know really
whether to categorize that
as Soma, as mid market,
as used, where we really didn't
know where to classify that.
It's really kind of a hybrid product
that is attracting tech tenants
with some FIRE tenants now leaving there,
and then we also have a
retail component there,
so that as we can see
obviously, that stretch,
and we're not really even
in the mid market yet
which as we know has seen
just tremendous growth,
and will continue to see some growth.
