Enterprise social network Yammer has made a home in San Francisco’s Mid-Market neighborhood, becoming the latest tech company to move into the blighted area as part of the city’s revitalization efforts.
Yammer showed off its new offices Monday morning at 1355 Market St., where it joins Twitter in the city’s landmark Market Square building. Yammer occupies the entire third floor, about 80,000 square feet, where 330 of the company’s 445 employees will go to work everyday (and are allowed to bring their dogs.) The company will close its doors at 410 Townsend St.
Twitter’s presence at Market Square no doubt spurred Yammer’s move. For years, the Mid-Market corridor has had the highest commercial vacancy rate in the city — the gritty area is dotted with strip clubs and fast-food joints, and is trafficked by many of the city’s homeless and mentally ill. When the city began offering a payroll tax break in 2011 to attract new businesses to Market Street — especially tech companies and entrepreneurs — to stamp out the crime and grime, Twitter jumped at the deal. It signed a six-year lease for 215,000 square feet, just months after the city’s Board of Supervisors approved the tax break.
The addition of Yammer establishes 1355 Market St. as a hub of tech and innovation, and suggests that that the city’s revitalization efforts are working, however slowly. Yammer is no small fish in the enterprise network pond; it has enjoyed big growth in its relatively short existence, and was bought by Microsoft last year for $1.2 billion. It will also share Market Square with home decor retailer One Kings Lane and call center company CallSocket.