A Fresh Take on CRE

SF Weekly Comp Digest: Wrapp Signs New Lease, Advantis 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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Wrapp Signs New Lease in Potrero

The social gifting service for celebrating friends' occasions recently signed a new lease for just over 3,300 SF of class B office space at 1550 Bryant Street.  Wrapp agreed to pay rent starting in the high-$40s with 3% escalations for the 3-year term, and will enjoy 1 month of free rent.  Learn more about the building from our friends at 42 Floors!
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HUD Signs New Lease for Over 50,000 SF in NorFi

The US Department of Housing and Urban Development just signed a new lease for class A office space in the Citicorp Center at 1 Sansome Street. HUD will pay rent starting in the high-$40s PSF for the 10-year lease, and will enjoy a half year of free rent.
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Advantis Renews at 301 Howard Street

Advantis, a San Fran-based provider of IT contingent staffing and technical resource services, recently renewed it's original 4,500 SQFT class A office lease.  The company agreed to pay rent starting in the low-$50s with escalations of 3% PYR for the 5-year, 3-month lease term.