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SAN FRANCISCO, CA — July 1, 2013
Stockbridge Capital Group and Wilson Meany today announced the signing of a 25,000 square-foot lease for rapidly growing Terracotta and its parent company, leading enterprise management software developer Software AG, at 140 New Montgomery Street, the iconic San Francisco office building. Software AG will occupy the 14th and 15th floors beginning in late 2013.
With the signing of Software AG, 140 is now 85 percent leased in advance of its October 2013 opening. Just five of the 26 floors remain available for lease. Each of the five remaining floors, which range in size from 8,000 to 11,000 square feet, has dramatic views of the City and the Bay.
“To achieve such a high pre-leasing percentage months ahead of construction completion is a testament to the unique qualities of the development,” said Terry Fancher of Stockbridge Capital Group. “140 has held a special place in San Francisco for nearly 90 years, and we are glad that it is now positioned for success in the years to come.”
Approximately 100 employees comprising the marketing, sales and executive teams from Terracotta, the leading provider of in-memory technologies for enterprise big data, and Software AG will be co-located at 140.
Terracotta and Software AG join a decorated list of technology, design, and financial service tenants in the Art Deco tower. Two restaurants also have agreed to open on the ground floor of 140: one headed by renowned chef Mourad Lahlou and the other from noted bar/cafe impresario Thad Vogler.
“140 is attractive to tenants from a variety of industries, all of whom share an appreciation for the historic character and modern amenities of the building,” said Chris Meany of Wilson Meany. “We also owe a debt of thanks to Bill Cumbelich and Charlie Withers at The CAC Group for their efforts in helping us achieve this milestone.”
Adjacent to the San Francisco Museum of Modern Art (SFMOMA), 140 is ideally situated in the center of San Francisco's business and arts district, making for a lively 24-hour neighborhood.
Completed in 1925, 140 served as the long-time home of the Pacific Telephone & Telegraph Co. The 295,000 square-foot structure is undergoing a major renovation, including all new building systems, a complete seismic upgrade, and the creation of unique amenities including a private sculpture garden, secure bike parking, a well-appointed shower and locker suite, and first-class ground-floor retail. 140 is also close to numerous public transit options and next door to a 411-space parking garage.
About Stockbridge Capital Group
Stockbridge Capital Group, LLC (together with its affiliates, "Stockbridge") is a real estate investment management firm which, together with its affiliates, had approximately $5.7 billion in real estate and real estate-related assets under management as of March 31, 2013. Stockbridge's investment portfolio comprises more than 30 million square feet of existing office, industrial, retail, hospitality and residential properties throughout the United States. In addition to real estate ownership, Stockbridge also specializes in large-scale development and redevelopment projects. Stockbridge is headquartered in San Francisco with offices and personnel in Chicago, New York, Los Angeles and Atlanta. For more information, please visit www.stockbridgerealestate.com.
About Wilson Meany
Wilson Meany is a privately owned real estate investment and development firm focused on urban infill locations in the Western United States. Wilson Meany brings more than 35 years of experience to its mixed-use, residential, retail and office developments, all of which reflect the company's commitment to integrity, innovation and quality, including San Francisco's renowned Ferry Building. Founded in 2003, Wilson Meany and its predecessor entities have long been recognized among the most respected and consistently successful investment and development firms in the San Francisco Bay Area. Collectively, Wilson Meany's partners and professionals have developed more than 10 million square feet, including some of the most innovative and distinctive properties in California. For more information, please visit www.wilsonmeany.com.
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