The office market in San Francisco is beginning to look like a tale of two cities: a thriving life sciences sector is filling up office space in South San Francisco, while the city's Mid-Market District struggles to bring back workers as the pandemic wanes.
Block Inc., the payments processing company formerly known as Square, disclosed this week that it won't renew its lease next year for 470K SF at 1455 Market St. after it transitions to a "more distributed" workforce model, according to a report in the San Francisco Chronicle.
Block said in a statement this week that it has given the majority of its employees the option to work from home, reiterating a previous notification that the company would no longer have a designated headquarters location, removing that designation from its offices at 1455 Market.
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