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3/10/26
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Two recent lease signings have brought 140 New Montgomery, a 300k sf office high-rise in San Francisco, to 94% occupied. The latest transactions were with Reflection AI, an AI start-up company building frontier open-source models, and A*, an early-stage venture capital firm backing outlier founders from idea to IPO, which leased a combined 30k sf of space.
In 2025, more than 58k sf of space was leased at the Art Deco tower. Now, with these two leases complete, in addition to the renewal of Calendly, only one office floor remains available for lease at the highly coveted, 100-year-old building.
When it was built in 1925, 140 New Montgomery was one of San Francisco’s tallest skyscrapers. It was the headquarters to the forward-thinking Pacific Telephone and Telegraph company, and 140 New Montgomery has symbolized innovation, technological advancement and future-forward design since its beginning. The structure is 26 stories, and the exteriors and interiors have been renovated to modernize the building in a way that complements its heritage and showcases its iconic views.
Building amenities include Shoji Café and Restaurant, a private courtyard, locker rooms with showers, bike storage with tune-up stations and an ongoing calendar of curated events and services managed by the onsite Experience Manager. The property is situated adjacent to the San Francisco Museum of Modern Art and walking distance to Transbay Park, Yerba Buena Center, St. Regis Hotel and Palace Hotel.
CBRE’s Bill Cumbelich, Dean McPadden and Jack Beritzhoff represented the property owner, Pembroke in the deals. Hugh Scott of JLL represented Reflection AI and Carter Beim of Colliers represented A*. JLL’s Hugh Scott, Derek Johnson and Jack Nelson represented Calendly.
“San Francisco’s office market is experiencing some of its strongest leasing momentum in years, driven in large part by the rapid expansion of AI and next generation technology companies. These latest leases highlight the importance of workplaces being innovative and collaborative to meet the needs of companies’ cultures,” said Dean McPadden, first vice president at CBRE. “With its historic character, modern infrastructure, dynamic community and premium offerings, 140 New Montgomery delivers the kind of high quality environment where scaling companies can create the type of office environments that attract talent, enable collaboration and drive innovation.”
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