Commitments for 8 floors at 140 New Montgomery Show New Era of Commercial Real Estate in San Francisco
SAN FRANCISCO, November 2, 2021 – International real estate advisor Pembroke today announced the signing of multiple tenants across eight floors at 140 New Montgomery, a welcome shift in the commercial real estate sector as businesses continue to evaluate needs for in-office work post pandemic.
Datarobot, Inc. is one of a diverse set of leading companies that will call 140 New Montgomery home, which also includes a life sciences-focused venture capital firm with over $2 billion in committed capital, multiple technology companies, and a global private equity fund, leasing a combined 87,000 plus sq ft at the innovatively restored, San Francisco mixed-use building, home to decades of innovators and entrepreneurs across industries.
140 New Montgomery boasts over 295,000 sq ft of trophy, Class A, commercial office space over 26 floors with an awe-inspiring lobby, beautifully landscaped courtyard with new seating, operable windows, and an iconic terra cotta wrapper as its main showpieces. The prestigious office environment offers floorplates of up to 12,500 sq ft, providing a versatile space for some of the world’s highest caliber brands to embrace new levels of flexibility, productivity, health and wellness, and connectivity. By showcasing iconic design, adaptable workspaces, and heritage integration, this A-Grade property has become a model for the future of workplace in San Francisco.
Pembroke’s West Coast Regional Director, Stacey Spurr, believes this flurry of lease activity supports the ‘flight to quality’ narrative the CRE industry has seen as a result of the pandemic.
“Despite the numerous challenges related to COVID-19, many businesses are experiencing rapid growth and want to attract top talent. San Francisco remains resilient, with strong technology and engineering recruiting opportunities, drawing many companies back in that are looking to commit for the next ten plus years. Through this leasing process, we have seen 140 New Montgomery live up to its reputation not only as a building with character, but a symbol for innovation and growth. This is a unique opportunity and time to be part of a building that has not had a significant amount of space come to market in nearly a decade, and the opportunity is moving fast.”
Innovatively restored from 2009 to 2013, 140 New Montgomery was revitalized to honor its original spirit as a modern communications hub (originally known as The Pacific Telephone & Telegraph Company Building) and an engaged center of innovation, business, and creativity. It attracts creative entrepreneurs and companies, and provides them with state-of-the-art technology and infrastructure, as well as innovative flexible workspace featuring high ceilings and operable windows that fill the space with fresh air and natural light. Electrical systems, plumbing, fire protection systems, HVAC, roofing, and over 1,300 operable windows were all completely replaced, and over two million pounds of rebar was installed to reinforce the structure. Each floor was completely redone to maximize usable space, while brick interiors were protected and renovated to preserve the iconic architecture.
140 New Montgomery is not only located in the center of San Francisco’s commercial district, but it is also at the center of the city’s rapidly growing arts district, adjacent to SF MOMA, the W Hotel and major new residential development. There are also numerous transit connections within two blocks, including the Transbay Terminal.
140 New Montgomery presents a rare workplace opportunity with 112,000 sq ft of premium headquarter space available to lease today.
Bill Cumbelich, Dean McPadden, and Jack Beritzhoff of CBRE represented 140 New Montgomery. Tim Kazul and Sarah Kelley of CBRE represented Datarobot, Inc.
We’re an international real estate advisor that acquires, develops, and manages properties and places – specializing in mixed-use and office environments in the world’s leading cities.
Facilitating patient capital of our investors, we take a long-term approach to real estate, investing in global cities with proven long-term growth potential.
We have offices in Boston, London, Munich, San Francisco, Stockholm, Sydney, Tokyo, and Washington DC, and manage approximately 794,000 sq m/8.6m sq ft in North America, Europe, and Asia Pacific.
By combining a global point of view with local expertise, we’re able to create and manage world-class properties that deliver the best outcomes for our tenants, investors, and the communities in which we work.