Real Estate Deals: Chime makes big commitment to San Francisco
This article appeared originally on San Francisco Business Times.
San Francisco-based fintech Chime last year signed a lease for more than 200,000 square feet in the 48-story skyscraper at 101 California St. in San Francisco.
Chime committed to a lease for more than 10 years, reportedly at a rent of $85 per-square-foot to relocate its headquarters in the longtime Financial District landmark owned by Houston-based Hines. It was the largest new lease signed in San Francisco in 2021.
Address: 101 California St., San Francisco
Size: 200,000 square feet
Tenant rep: Jamie Saunders and Janna Luce of Cresa
Landlord rep: John Cecconi, Ken Churich and Sam Stein of CBRE
Why it's award-worthy: The deal marks a long-term commitment to the city and its downtown by Chime and comes as other emerging financial firms like Coinbase and Brex have vacated their headquarters in San Francisco.