Poised to receive Planning’s approval to move forward with the first four buildings at the center of their proposed 14-acre campus in South Mission Bay this week, Salesforce.com has just killed any near-term plans for the massive development.
According to the Business Times, Salesforce “needs space faster than it can build it and thus will focus its efforts on expanding into existing buildings in downtown San Francisco.”
“We just took a look at our long term and really our short term needs. The reality is we are going to need the square-footage before we can build it,” said Bruce Francis, Salesforce vice president of corporate strategy. “We came to the conclusion this is the way to go.”
While there are no immediate plans to sell the Mission Bay land that Salesforce bought in late 2010 for $278 million, Francis expressed openness to offers.
No, it’s no February Fools. And yes, the salesforce story does sound a bit iffy. One more strike and it’s officially a development turkey for San Francisco today.
∙ First Four Salesforce.com Campus Buildings Poised For Approval [SocketSite]
∙ Salesforce suspends plans for huge San Francisco campus [Business Times]
∙ Salesforce.com Acquires 14 Mission Bay Acres To Build 2 Million Feet [SocketSite]
∙ Piers 30-32 Dropped From AC34 Development Plan, Lawsuit Filed [SocketSite]