https://traded.co/deals/california/office/lease/208-utah-street-1/
Total Square Footage: 80,000 SF
Transaction Type:Lease
The property asset involved in the transaction is an 80,000-square-foot office building located at 208 Utah Street in San Francisco. It was recently leased to Abridge, an AI startup valued at $5.3 billion. The property was purchased by REDCO Development for $15 million, indicating significant investment in the San Francisco market.
Summary of transaction details:
Property Type: Office
Transaction Amount: $15 million
Square Footage: 80,000
Address: 208 Utah Street
Market: San Francisco
Landlord: Chris Freise & Jason Freise - Redco Development
Tenant: Shiv Rao - Abridge
The deal was executed as part of Abridge's expansion strategy, moving from a 14,000-square-foot office in the Mission district. This lease reflects the ongoing demand for tech space in San Francisco, driven by the growth of companies within the technology sector.