- A New York-based venture capital firm signed a new lease at the Pyramid, while a San Francisco law firm renewed and expanded its space at Two Transamerica.
- The deals total more than 13,000 square feet and bring 2026 leasing across the campus to nine transactions covering about 126,000 square feet.
- YODA Group is betting on turnkey space, with 10 move-in-ready spec floors at Two Transamerica starting in Q4 2026, as tenant demand concentrates in premium buildings.
JLL and YODA Group have signed more than 13,000 square feet of new leases at San Francisco’s Transamerica Pyramid Center.
The deals bring leasing across the campus to nine transactions totaling about 126,000 square feet since the start of 2026.
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New Owner, New Momentum
YODA Group, a Cyprus-based listed investment conglomerate with holdings in real estate, luxury hospitality, shipping and energy, completed its acquisition of the campus on March 27, 2026. The deal marked its entry into the U.S. and the foundation of a broader U.S. growth strategy, according to the company.
The Real Deal previously reported that the total transaction value reached about $725 million. The prior ownership group paid $650 million for the tower in 2020 and invested $250 million in a Norman Foster-led renovation.
The Details
A New York-based multi-stage venture capital firm signed a new lease in the Transamerica Pyramid itself. At Two Transamerica, a San Francisco-based law firm renewed and expanded its 7,000-square-foot occupancy. Neither tenant was named in the release.
YODA Group CEO Alon Bar said the campus offers a combination that is increasingly hard to replicate: an iconic address, high-quality office space and a true campus setting. He said the leases reinforce the company’s commitment to continued investment across the property.
Transamerica Pyramid Leasing Builds
The latest deals extend a run that began soon after the sale closed. In July 2026, YODA announced 113,000 square feet of leases across seven transactions, five of them signed after the March acquisition.
That momentum comes against a tough citywide backdrop, with CBRE tracking San Francisco office vacancy at 34% in Q2 2026. Chris Roeder, vice chairman at JLL San Francisco, said the market has entered a new phase, with leasing accelerating and companies making longer-term workplace decisions.
Why It Matters
Roeder said the strongest demand keeps gravitating to high-quality buildings in vibrant neighborhoods that offer the location, amenities and experience companies need to attract talent. That flight to quality favors trophy assets with fresh capital behind them.
Tech and investment firms are a big part of that demand. AI office leasing reached 2.9 million square feet in San Francisco in the first half of 2026, with tenants increasingly signing direct Class A deals, according to Savills and CompStak data.
What’s Next
YODA Group is rolling out a collection of premium spec suites at Two Transamerica in Jackson Square, with 10 move-in-ready floors planned and the first expected in Q4 2026. The building will also add an amenity center with a fitness facility and wellness offerings.
Plans for Three Transamerica and broader campus upgrades, including new restaurants, are set to be announced in the coming months.
