It’s basically now a rule that if there is tech company expansion in San Francisco, Mayor Ed Lee will announce it. There was on Monday — and he did — with the revelation that the networking company Riverbed Technology plans to take over a rehabbed South of Market building and hire up to 650 new employees.
The new 10-year lease for the 167,000-square-foot space will begin in 2014 after the $90 million rehabilitation is complete, company officials said in a Mayor’s Office press conference.
“Welcome to the Super Bowl of innovation,” the mayor said. “While we didn’t enjoy the other Super Bowl, we’re working on our own.”
Riverbed currently employs 500 people in San Francisco — and 1,700 worldwide — and plans to make the new building at 680 Folsom St. its international headquarters.
The company, which creates products aimed at internal business communications, is currently located at 199 Fremont St. Riverbed CEO Jerry Kennelly said San Francisco is rife with talented workers, so the decision to stay and expand was not a difficult one.
“Every day, it’s a war for talent,” Kennelly said. “We’re all fighting to get the best and the brightest.”