Every week, we compile a digest of some recent deals from the CompStak database. We hope you will find the information helpful.
Visa Signs Whopping New LeaseThe multinational financial services company recently signed a new lease for nearly 110,000 SF of class A, full-service office space split between two different buildings, the Steuart and Spear towers, in 1 Market Plaza. The company agreed to pay rent starting in the mid-$50s PSF with 3% bumps for the 12-year lease term. The company was given a combined total of 11 months of free rent by landlords, Morgan Stanley and Paramount Group.
Pacific Crest Securities Renews and Expands at 201 SpearOperating at the leading edge, the premier investment bank for technology recently decided to stay in its 4,000 SF, class A office space and took another 5,600 SF at 201 Spear Street in the South Financial District. PCS agreed to pay rent starting in the high-$50s PSF for the 5-year lease term.
TrialPay Signs New Lease in Union SquareThe alternative e-commerce payment system that enables customers to pay for one item by trying or buying something else, recently signed a new lease for just South of 4,500 SF of office space at 461 Bush Street. The tenant agreed to pay rent starting near $40 PSF for the 3-year lease term.