OpenTable is trimming its San Francisco headquarters and moving into a new downtown tower, a real-estate shuffle that says plenty about how the city’s office market works in 2026. The restaurant-reservation company is headed for 425 Market Street, keeping its home base in the Financial District while taking less space.
According to CoStar, OpenTable has signed a lease for a scaled-down headquarters at 425 Market. Cushman & Wakefield brokered the deal, while MetLife Investment Management owns the tower, which sits near the waterfront and major public transit connections.
A New Address For A Longtime San Francisco Tech Tenant
OpenTable’s public-facing pages show the transition in progress. The company’s About page still lists 1 Montgomery Street as its San Francisco headquarters, while its corporate contact page lists 425 Market Street, Suite 1200; that split suggests its address information is being updated as the move takes shape.
The new location also puts OpenTable in one of the Financial District’s most transit-friendly office towers, rather than sending the company out of the city or into a suburban campus. For a business whose platform connects restaurants and diners around the world, the move keeps its corporate identity firmly tied to San Francisco while making the office footprint more practical.
San Francisco Offices Are Filling Up Selectively
OpenTable’s smaller headquarters arrives as downtown leasing improves, although the city is nowhere near a full office-market recovery. CBRE reported a 29.2% overall vacancy rate in the second quarter, along with nearly 964,000 square feet of net absorption and average asking rents of $72.96 per square foot.
Cushman & Wakefield found that tenant demand reached 8.6 million square feet, its strongest level since 2019, with technology companies accounting for roughly 54.9% of active requirements. The numbers point to a market that is coming back in pieces, with high-quality, well-located buildings attracting tenants even as plenty of older or less desirable space remains empty.
OpenTable is not the only company treating 425 Market as a place to reset its downtown presence. Hoodline reported in February that Charles Schwab planned to move its San Francisco offices from 211 Main Street to the tower, while a Newmark report listed Schwab’s 115,042-square-foot lease there.
OpenTable Keeps Its Seat In The City
The move looks more like a tighter local base than an exit from San Francisco. OpenTable’s parent company, Booking Holdings, describes the platform as serving more than 65,000 restaurants worldwide and filling 1.9 billion seats a year, making the headquarters change a real-estate adjustment rather than a retreat from the business.
For downtown San Francisco, that distinction matters. The city’s office comeback is increasingly being measured not by companies returning to their old footprints, but by tenants choosing a smaller, better-positioned seat at the table.
