SAN FRANCISCO —Peter Hamann of Cresa’s Bay Area offices recently represented New Relic—a leading provider of web application performance management services— in a 55,000 SF office lease relocation and expansion at 188 Spear St. in San Francisco’s South Financial District.
New Relic, which previously occupied 14,625 SF at 101 Second St. in San Francisco, is relocating its headquarters to accommodate its accelerating growth. New Relic, a private company valued at about $400 million, serves more than 25,000 organizations and has almost tripled its employees in the past year.
Shorenstein Properties, which represented itself, recently added four new floors to the now 12-story, 220,000 SF office building. New Relic will occupy the top three floors, which offer sweeping bay views. “The company believes that its new location in the heart of San Francisco’s burgeoning South Financial District will be a great fit as it continues to expand and flourish,” says Hamann.
Cresa’s Project Management team, led by Robin Weckesser and Justin Chan, will oversee the extensive build-out before New Relic’s official move-in, slated for early next year.
Cresa is the nation’s largest corporate real estate advisory firm exclusively representing tenants. California offices include San Jose, Palo Alto, San Francisco, Los Angeles, Woodland Hills, Orange County, Ontario, San Diego, and Sacramento.
Cresa is an international corporate real estate advisory firm that exclusively represents tenants and specializes in the delivery of fully integrated real estate services, including: Transaction Management, Project Management, Strategic Planning, Workforce and Location Planning, Subleases and Dispositions, Portfolio / Lease Administration, Capital Markets, Sustainability, Industrial / Supply Chain, and Facilities Management. With 57 offices, Cresa is the largest tenant representation firm in North America. Through its alliance with Savills, one of the world’s largest commercial real estate services firms, Cresa covers more than 255 locations in 40 countries. For more information, visit www.cresa.com.
Image courtesy of: Woonteiler Ink