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7/25/24
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There have been four recent lease signings totaling 79k sf of space at 650 California Street, an architecturally distinct 33-story office tower in San Francisco’s North Financial District. The high-rise is owned by Columbia Property Trust Inc.
Photo: Jeff Peters, Vantage Point Photography |
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In one deal, Debevoise & Plimpton LLP agreed to expand and extend its lease. The law firm signed a 10-year extension that will keep its San Francisco office at the tower through at least 2037, while also expanding by 15.8k sf across the entire 30th floor. The expansion brings its total footprint to 31,.6k sf on the entire 30th and 31st floors.
Law firm Cleary Gottlieb Steen & Hamilton LLP also signed an 11.5-year, 23.8k sf direct lease with Columbia for the entire 25th floor and a portion of the 24th floor. The firm, which has offices in the world’s major financial sectors, currently subleases 7.2k sf of space on the 20th floor of the tower for its San Francisco office.
HPS Partners has signed an 11-year, 8k sf direct lease with Columbia for a portion of the 28th floor. The leading global investment firm has been subleasing 4.4k sf on the 20th floor of the tower.
In addition, Analysis Group Inc signed an extension for the full 15.6k sf 23rd floor. The international economics consulting firm, which has 14 offices across three continents, has officed at 650 California Street since 2008.
With these agreements, the 483k sf building is approximately 90% leased to a roster of top companies in the legal, financial, technology, creative and natural resource sectors. Notable firms at the tower include fintech company Affirm, global software company Ironclad, multinational oil and gas company Shell and global financial services firm Credit Suisse.
“650 California’s leasing momentum and strong occupancy rate are proof that the highest quality office product continues to perform well, even in today’s current market,” said Columbia Property Trust Head of Real Estate, Ted Koltis. “The tower’s timeless views, as well as its connectivity, comfort and convenience, give forward-looking companies the ideal environment to service clients and to attract and retain top talent.”
Built in 1964, 650 California’s mid-century architecture and signature design have made it a landmark on San Francisco’s iconic skyline. The tower boasts unparalleled, panoramic views overlooking the Golden Gate Bridge, Alcatraz and Coit Tower.
Building occupants and guests have access to a comprehensive suite of amenities including state-of-the-art, technology-enhanced conference and meeting facilities, an expansive fitness center with executive locker rooms, on-site concierge services and an activated lobby which includes Red Bay Cafe. Columbia’s efforts at the building have earned 650 California ENERGY STAR, LEED Platinum, Fitwel and WiredScore Gold certifications.
Located in the heart of the Financial District, 650 California is surrounded by the city’s best dining, bars, and transit. The Embarcadero, Montgomery and Powell metro stations, as well as the cable car line and ferry transport are in close proximity. Parking, EV charging stations and bike storage are on-site.
Columbia was represented in-house by Ted Koltis and Scott Mullen, as well as by Cushman & Wakefield’s J.D. Lumpkin and Sam Wasserstein, on all transactions. Debevoise & Plimpton and Cleary Gottlieb were represented by Mike Brown, Danny Trainor, Brian Cohen and Moshe Sukenik of Newmark. HPS was represented by Dean McPadden of CBRE. Analysis Group was represented by Michael McCandless, Charles Daggett, Dustin McFarland and Denis Karas of Savills.
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