An agreement with the buyer of the office buildings in downtown San Francisco for PG&E to lease back, over multiple years, some of the space that was sold. The sale of the San Francisco general offices located at 215 Market St., 245 Market St., 77 Beale St., 50 Main St., 25 Beale St., and 45 Beale St. PG&E’s lease of, and option to purchase, the 300 Lakeside tower in Oakland. The major steps for PG&E’s move to Oakland and the sale of the San Francisco offices are: “PG&E currently plans to relocate approximately 3,000 employees into the Lakeside Building in 2022, approximately 200 employees in 2023, with the balance of the space to be made available for an additional 1,300 employees in between 20,” PG&E said in the regulatory filing. The company has struck a deal to lease the 300 Lakeside Drive office tower, a 28-story highrise that PG&E intends to eventually purchase from TMG Partners, a veteran Bay Area development firm.ĪT&T to reduce office locations, call managers back to office “PG&E intends to use the Lakeside Building as its new corporate headquarters, where it can consolidate approximately 4,500 employees currently spread across the San Francisco general offices and at least two satellite offices,” both in San Ramon, PG&E said in a regulatory filing with the state Public Utilities Commission. The Oakland move also could help pave the way for the embattled utility to create a fresh start after a decade of disasters that began with a fatal gas explosion in San Bruno in September 2010 and included a string of destructive and deadly Northern California wildfires. The shift to downtown Oakland is expected to be a major economic boost for the East Bay’s largest city and to bolster PG&E’s efforts to operate more efficiently and escape the high costs of a San Francisco location. PG&E has detailed the timing of its game-changing headquarters relocation to downtown Oakland and has also formally sought regulatory permission to sell its main offices in San Francisco, an intricate plan that the utility sketched out in regulatory filings.Įarlier this year, PG&E unexpectedly revealed it planned to move out of its long-time headquarters in downtown San Francisco and relocate to a prominent office tower that’s perched on the shores of Lake Merritt in downtown Oakland.
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