Vornado’s Field Trip to San Fran
In that other big tech city across the country, our San Fran reporter snapped a few Vornado folks celebrating the REIT's 555 California St tree lighting and its almost lease-up (98%) thanks to a B of A renewal and a big tech name close to signing on two floors in the 1.8M SF, three-building complex: Paul Heinen out of Vornado's Chicago office; NYC's Edward Riguardi, David Greenbaum, and Glen Weiss; and CAC Group's Bill Cumbelich, whose firm has been leasing the property since Vornado bought a 70% interest in '07 (CBRE Group bought CAC on Friday).
Catchier-than-you-want-her-to-be pop singer Carly Rae Jepsen played the after party. As start-ups get bigger and space scarcer in San Fran's South of Market submarket, tech companies aren't limiting themselves to renovated warehouses anymore. We hear 555 Cali offers 30k SF floor plates, high ceilings, and stellar views, so while this may be crazy, call Bill maybe.
