🚀📈🏙️🏡🤯📉💫 This week in Bay Area business: brain computer funding; S.F. manufacturing; office-to-residential; and hot water?

What story is Bay Area real estate trying to tell? 

This week we had iconic buildings changing hands, including a potentially huge office-to-residential switch in San Francisco, while water heater regulations could strain both wallets and the local labor market. 

Oakland’s urban revival may get a boost from an ambitious public space project involving music and food trucks. While San Francisco is undergoing a manufacturing renaissance that few saw coming. 

Despite ongoing market uncertainty, Bay Area companies continue to raise funds, with one brain-computer interface startup taking a notably different approach than high-profile competitors drawing significant attention.

Meanwhile, transportation and logistics players are sending mixed economic signals — some bracing for recession as others position themselves for potential tariff-driven demand.

All this and more in another week in Bay Area business.

Bay Area water heater regulations spark costly upgrades for homeowners by Ted Andersen

The Bay Area will begin phasing out natural gas appliances in 2027. The fallout could be costly for homeowners and homebuyers in an overheated local real estate market.

The good news: there are rebates up for grabs. The bad news: there won't be forever and the race for labor and parts could see unprepared homeowners end up in hot water.

"Just imagine if everyone tries to do this all at the same time. We don't have enough electricians in the city to do all this work," said Steven Huang , president of the San Francisco Association of REALTORS®.

Read the full story.

Wells Fargo has a buyer for its San Francisco headquarters by Sarah Klearman

Wells Fargo has selected a buyer for its longtime San Francisco headquarters, a residential developer who plans to convert the 409,000-square-foot office building into housing. Keep an eye on this one.

Here's the full story.

Real estate giant says warehouse demand may surge amid tariff concerns by Doug Sams

Prologis says a 'disconnected world' could see a race for Bay Area warehouse space. What will it mean for logistics companies and firms in need of storage?

Here's the full story.

Northlake unveils new Uptown Oakland community ‘town square’ by Hannah Kanik

Uptown Oakland’s latest attempt to activate streets and improve the city’s perception is officially underway and could result in a 20,000-square-foot “town square."

Read the full story.

• Suisun City, Rio Vista move to annex key land for billionaire-backed city

• Shorenstein's 45 Fremont St. to hit the market for sale

• 'Top Chef' star plots new San Francisco restaurant

• Former Raiders HQ could have new future in wake of dead Prologis deal

• Presidio Bay, Artemis acquire Mid-Market apartment complex

• Amazon-owned robotaxi operator Zoox signs major lease

• Signature Development hands waterfront Oakland apartment building back to lender

• S.F. cabaret owner plots new North Bay restaurant

• Commercial furniture installer bets on Oakland's 'potential to reinvent itself'

Executive profile: Media mogul, philanthropist, activist and . . . prolific biotech CEO by Ron Leuty

Emil Kakkis is not your average biotech CEO. At Ultragenyx he's going after ultra-rare diseases and garnering drug approvals at a rate that far larger firms can only dream of. Then there's the philanthropy, publishing company and activism.

Read the full profile.

Cover story: Is San Francisco a manufacturing city again? by Alex Barreira

Small-scale production models are flourishing in the city, particularly in the Mission District. Despite some sizable economic hurdles, small businesses are making manufacturing work in San Francisco.

Read the full story.

Asana settles with Christian sex-ed nonprofit over discount dispute by William Hicks

San Francisco tech firm Asana has agreed to settle its legal dispute with Holy Sexuality, a Christian sex-ed nonprofit.

Here's the full rundown.

Goodwill hunting for real estate and has big Bay Area plans by Alex Barreira

Goodwill San Francisco Bay has a new CEO and big local plans, motivated by opportunities in the market and a general reorganization as it emerges from pandemic struggles.

Here's the full story.

Neuralink competitor Science Corp. raises $110 million in convertible notes by Sara Bloomberg

A brain-computer interface startup founded by a former Neuralink executive has raised more than $100 million in convertible debt, almost doubling the company's total funding.

unlike Elon Musk's Neuralink, Science Corp. doesn't appear to be in a rush to launch any commercial products.

Here's the lowdown.

United Airlines sees ‘real risk’ of recession amid lower demand by Mark Calvey

Is a recession risk coming in to land? For United Airlines, the fasten seatbelt sign is on.

Here's the full story.

ICYMI here's what else you need to know

• Return-to-office mandates seem to be working in San Francisco

• 'It won't be called Chinatown anymore': San Francisco merchants fear closures as tariff war escalates

• Feds may want a say in 23andMe bankruptcy court sale of genetic data

• Peninsula biotech startup's buyout aims to reshape landscape for cardiovascular medicine

• The Week in AI

• Wells Fargo steps up hiring in key growth area for bank

• OpenAI doubles users in less than two months

• Big moves by small biotechs signal potential shift for investors

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Moonshots and Doom Loops

This weekly Bay Area business  round-up is written by Simon Campbell, special projects editor at the San Francisco Business Times. Reach out with news tips, questions or comments: [email protected].

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Have a great week and Go Dubs.