Presidio Bay Has Developed New Office Resort Models

The developer is adding rooftop dining to San Francisco office buildings to attract tenants back to city workspaces.

Updated on Oct. 10, 2026 in Remote Work

A rooftop terrace on a modern high-rise in San Francisco with designer outdoor furniture and greenery, under a bright, clear midday sky. — Presidio Bay is retrofitting San Francisco office properties like 88 Spear St. with rooftop hospitality amenities to incentivize a return to in-person work. AI Illustration. Upload story photo >

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Presidio Bay is constructing Alto88, a 10,000-square-foot rooftop restaurant at its 88 Spear St. office property in San Francisco. The project is part of a broader shift toward hospitality-driven office experiences.

Why it matters

Developers are betting that adding amenities like gyms, spas, and restaurants will lure employees back to central offices. This strategy aims to counter declining demand by transforming traditional workspaces into office resorts.

Presidio Bay is investing $100 million to upgrade 88 Spear, a 12-story building it purchased for $41 million in 2023. The firm also recently acquired the 301 Battery St. building, which currently contains 155,000 square feet of vacant office space.

The players

Presidio Bay

This is a real estate development firm specializing in the transformation and management of commercial office properties.

Norwest Ventures

This is a multi-stage investment firm that provides capital and operational support to growth-stage companies.

RFR Holding

This is a privately held real estate investment and development company with a portfolio of prominent commercial and residential properties.

The details

The developer is retrofitting aging office inventory into amenity-rich environments to compete in a market where remote work has reduced foot traffic. Recent leasing activity at 88 Spear includes commitments from Norwest Ventures for a full floor, alongside new ground-level tenants like Arsicault Bakery and Canopy.

The 301 Battery building was originally constructed in 1924.
RFR Holding purchased the 301 Battery property for $143 million in 2020.
Presidio Bay acquired the 88 Spear Street building in 2023.
Developers hosted a hard hat tour of the 88 Spear site in October 2026.

Market Landscape

The move follows a documented industry-wide shift toward hospitality-driven office amenities that prioritizes tenant retention in competitive urban markets. By integrating retail and wellness services, firms aim to maintain asset value amid ongoing transitions in corporate work habits.

Employees and office workers can expect expanded access to local dining and wellness services integrated directly into their workplaces. These developments may increase the appeal of daily commutes while influencing the surrounding neighborhood retail landscape.

The takeaway

Commercial developers are moving away from traditional office models to survive in a hybrid-work economy. Prioritizing hospitality over basic floor space may become the new standard for keeping downtown centers relevant.