WalkMe has leased nearly 18,000 square feet of offices for a U.S. hub in San Francisco as it prepares to be acquired by SAP.
The Israel-based digital adoption software provider subleased offices from Salesforce on the 26th floor of the 30-story tower at 350 Mission Street, in South of Market, the San Francisco Business Times reported, citing unidentified sources. Terms of the sublease were not disclosed.
WalkMe had previously leased 40,000 square feet at 71 Stevenson Street, where the lease ended in July. The company expects to transition to the new digs this fall.
The tech firm just entered into an agreement with Los Angeles-based Kilroy Realty, owner of 350 Mission, indicating the firm may be building out new offices there.
Brokers Sam Wasserstein of JD Lumpkin and Danny Pickard of Cushman & Wakefield represented Salesforce in the sublease deal. Broker Mike Sample of JLL represented WalkMe.
WalkMe’s move to 350 Mission could come just as SAP’s acquisition of the company closes, according to the Business Times. SAP, based in Germany, approved a deal to acquire the company in June for $14 per share, or $1.5 billion for all shares. The price was a 45 percent premium to WalkMe’s closing price on June 4.
WalkMe, based in Tel Aviv, is the latest company to sublease offices at the 455,350-square-foot tower known as Salesforce East, once entirely occupied by its namesake.
Salesforce subleased close to 54,000 square feet in the building to Yelp in 2021, and another 286,000 square feet to beauty company Sephora in early 2022.
Salesforce listed its remaining offices, or 104,000 square feet, which included the 26th floor, in the spring last year.
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This year, Silicon Foundry subleased the 25th floor, an unidentified source told the Business Times.
Only the 27th, 28th, 29th and 30th floors remain available for sublease at Salesforce East. Those floors include a top-floor lounge club, a presentation floor and a cafe floor, instead of traditional offices, according to a marketing brochure.
— Dana Bartholomew