X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SAN FRANCISCO-When Joseph Cala journeys to San Francisco in a few days, it won’t just be for a vacation.

The Oklahoma City-based entrepreneuer has a plan for the City by the Bay: He wants it to be ground zero for development of his Undersea Hotel and Resort empire. From the minute his plane touches down on Sept. 18, Cala says he will be on the lookout for office space from which to run his business, the Cala Corporation.

But undersea hotels? Are such things possible? Sure, Cala says, although he claims his is the first company to do such a thing. “The future of tourists is eco-tourism,” he tells GlobeSt. “What people want is to interact with the dolphins, with the sea life. They want to feel like they are under the ocean.”

Cala says the best way to combine those dreams and his dreams is by actually building a part of the hotel under the ocean and taking advantage of the nautical view by using glass walls, Cala said. He projects locking up his first deal in Maui, Hawaii, within the next six months. What about San Francisco? “No. Not here,” Cala says. “These waters, you can’t see anything in them.”

Cala, who already owns a home in Silicon Valley, wants to live in the region to gain proximity to venture capitalists and other entrepreneurs. That benefit outweighs the fact that San Francisco is one of the most expensive office markets in the world, says Cala, who is eyeing several office spaces, mainly in the city’s financial district, but also in Redwood Shores. Still, coming from Oklahoma City where he rents for $1/sf, it’s hard to take.

“Jesus. It’s like day and night,” says Cala. “San Francisco is a ripoff.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.