A Fresh Take on CRE

SF + Bay Area Deal Highlight: Two Tech/Media Companies Sign New Leases in SF and Palo Alto

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From time to time, we like to highlight recent deals from the CompStak database that we find interesting. We hope you will find the information helpful.
   
360 Third St

San Francisco: Social Media Company Takes 35K 

A provider of social media management tools signed a new lease for 35k SQFT at 360 3rd Street in the Yerba Buena submarket. Yerba Buena has been in high demand due to the proximity to the new TransBay Center and and the Mission Bay development project, and the company will pay almost $60 PSF in the redeveloped, LEED Gold certified, property. This past September, a mobile payment company also moved into the building, paying rent in the mid $50’s.
   
1 Palo Alto

Palo Alto: Location Ad Tech Company Signs a New Lease

 
A location-focused advertising technology startup recently signed a new lease at 1 Palo Alto Square, shortly after closing a new financing round. The company has increased its headcount significantly in the past year. The company will take 5,543 SF paying almost $6 PSF over 3 years. Just down the road at 975 S. California Avenue, a stealthy security startup is paying slightly lower rent for a 27k SQFT space in a sublease.