Posted by: BayAreaComRE | August 12, 2010

Sourced: Start-Up Village Emerges…

(Source: WSJ)

We’ve already be sent this three times by clients and friends…great article in Wall Street Journal about 410 Townsend and SoMa’s comeback.

The technology start-up scene is rebounding strongly from the recession. That’s evident at 410 Townsend Street in San Francisco’s South of Market neighborhood.

The 75,000-square-foot office building was about 60% vacant in late 2008 when the financial crisis hit and one of the property’s major tenants moved out. Now the landlord, PMI Properties, says the building is 100% full with Internet start-ups such as microblogging service Yammer Inc., online ticket seller Eventbrite Inc., online gaming company Playdom Inc. (recently purchased by Walt Disney Co.) and help-desk software company Zendesk Inc.

All of the start-ups moved in within the last year. And many are now bursting at the seams as they grow more quickly than expected. “We’ve got a competition with Yammer to see who will outlast the other in this building and get the other’s space,” says Kevin Hartz, chief executive of Eventbrite, which has seen its staff grow from 25 last year to around 70 people now. “It’s a death match.”

Remainder of the article can be found here: http://on.wsj.com/8Zr11g

We’ve covered the tech comeback exhaustively (here, here, and here) and are glad the national attention is focusing on the region…

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