Commercial Real Estate Investor and Developer | Founder of Frontline Realty Capital | Value-Add | Development | Industrial | Retail | Contrarian Office
Excited to introduce myself - my name is Rob Mann. I’m a commercial real estate investor and developer. My team at Frontline Realty Capital focuses on value-add and development of industrial and retail assets in California. Follow for updates on our projects! #ReTwit#RealEstate
Just wrapped up Reconvene 2025 — a truly unique conference. Huge thanks to @moseskagan & @SimranKagan for curating such an inspiring gathering of ideas, conversations, and people. Grateful to have been part of it...see you all next year!
This is exactly what we’re seeing on the ground.
Leasing momentum is real, and San Francisco’s office market is bouncing faster than most expected.
We believed in the San Francisco recovery early and started buying. Grateful we did—just wish we bought more.
The momentum is real!
The San Francisco Business Times just published a new CRE article that has a few interesting stats:
1) San Francisco office leasing volume increased 62.8% year-over-year, the fastest nationwide.
2) AI firms have leased 6 million square feet in San Francisco and are currently seeking another 1.5 million square feet.
3) Salesforce Tower has signed 480K square feet of leases this year, with a similar amount in active negotiations. 5,000 people now enter the building daily, which is 83% of pre-pandemic levels.
4) Sublease space has dropped for eight straight quarters, hitting its lowest level since mid-2020.
5) AI roles make up 42% of all tech job postings in the Bay Area.
The recovery of the office market has resulted in San Francisco having the highest apartment rent growth of any major market in the country at 6% (CoStar).
I started working in San Francisco in 2010 when prices were bottoming out after the GFC. The 2010-2012 period was an exceptional buying opportunity and then in 2013 and 2014 ULI ranked SF as the top market in the country for new investment.
Today feels like 2013 again. The bottom is a couple years behind us, pricing is still low but moving upward, and the market has great momentum with strong demand drivers and many years to run.
@KenjiCapital Thanks!—Oaklandish is one of our favorite tenants at 1440 Broadway too. They've built something truly original and rooted in the spirit of Oakland. Proud to have them in the building and part of the community.
We acquired 1440 Broadway in Oakland. Excited to bring more life to this property. Thanks to the great team I have on this, we have several new leases in motion. We will be buying more distressed office in San Francisco Bay Area.
Warren Buffett said this weekend:
“In 60 years, we’ve made most of our money on 8 or 9 great ideas.”
“You only need a few—if you’re patient.”
We’ve been patient.
San Francisco office is finally resetting — and recovering.
We’re executing our plan to acquire quality office buildings at a low basis.
This window won’t stay open forever.
Like Buffett, we’re not chasing everything.
We’re focused on the few deals that matter.