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Case Study

Headquarters relocation finds Riverbed Technology the ideal space at a great price

 

Riverbed Technology provides technology products and solutions to meet the operational and performance needs of today’s modern enterprise.

Headquartered in San Francisco, Riverbed started looking at headquarters relocation options with three years left on their current lease, and enlisted the support of JLL for relocation strategy, site selection and lease negotiations. Specifically, the company was looking for:   

  • A location, both geographically and from a workplace design perspective, attractive to current and prospective employees.
  • 200,000 square feet to support current capacity and future growth.
  • Ability to implement new workspace standards that would increase employee collaboration and productivity, and also reduce operational costs.

The JLL team found an ideal location: A soon-to-be-renovated office building at 680 Folsom Street  in downtown San Francisco. It offered all amenities Riverbed was looking for, and renovation completion plans coincided with Riverbed’s current lease expiration.

“Thanks to JLL, we got the real estate deal we wanted at a great price. JLL helped position us for performance and success. That’s real value.” - Jerry M. Kennelly, Chairman and CEO, Riverbed Technology

JLL negotiated Riverbed’s 200,000 square foot anchor tenant pre-lease at below-market rents, without adversely impacting the company’s remaining GAAP (generally accepted accounting principles) from their existing lease. The landlord soon started updates—including prominent, exterior Riverbed signage—and Riverbed moved into 680 Folsom in May 2014. 

Are you considering a relocation? Learn more about our Tenant Representation capabilities, or our San Francisco office.

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