BuildBlock Completes Headquarters Acquisition in San Francisco Area, U.S.

On May 13, BuildBlock, a company that provides comprehensive U.S. real estate services to Korean ultra-high-net-worth individuals and corporate clients, announced that it had completed the purchase of a new headquarters building in the San Francisco area for approximately 8 billion KRW.

The newly acquired California headquarters building is located in the City of Burlingame, near San Francisco. Burlingame offers excellent transportation access, being less than 10 minutes from San Francisco International Airport, and is home not only to Altos Ventures, a Korean-American venture capital firm, but also to a variety of artificial intelligence (AI) and biotech startups.

BuildBlock's headquarters building in Burlingame, San Francisco, USA

BuildBlock plans to utilize this newly purchased commercial property not only as its own headquarters, but also as a bridgehead for Asian companies seeking to enter the U.S. market through BuildBlock. The company has launched a membership service that includes virtual offices, mail storage, shared office spaces, and meeting room access for business trips. Already, more than 100 corporate clients have submitted letters of intent to join. While BuildBlock primarily supports Korean companies with real estate transactions, design permits, and construction work required for entering the U.S. market, it aims to further assist companies from the early stages of their U.S. expansion through this membership service, helping them minimize trial and error.

According to BuildBlock, there has been a noticeable increase in the number of Korean companies seeking to enter the U.S. market, with the San Francisco and Silicon Valley areas being particularly popular among Korean startup support organizations. In fact, BuildBlock oversees real estate operations required for the U.S. Silicon Valley expansion of a wide range of Korean startup-related organizations, including public institutions under the Korean government and venture capital firms affiliated with Korean financial holding companies.

BuildBlock's recent acquisition of its headquarters building and expansion of its office space are also intended to accommodate the growing demand from corporate clients. In particular, the San Francisco headquarters will expand its organization around a "corporate expansion task force," which specializes in office leasing and sales, design permits for actual use, interior construction, and facility management?services most frequently sought by corporate clients.