A Fresh Take on CRE

SF Weekly Comp Digest: Visa Signs New Huge Lease, Pacific Crest Securities Renews, and More!

Every week, we compile a digest of some recent deals from the CompStak database. We hope you will find the information helpful.

 
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Visa Signs Whopping New Lease

The 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.



 
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Pacific Crest Securities Renews and Expands at 201 Spear

Operating 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.




 
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TrialPay Signs New Lease in Union Square

The 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.