Newmark Arranges 97,606-Square-Foot Lease Renewal at 760 Market in San Francisco

April 25, 2024 9:00 AM

Newmark[1] announces that Figma, a product design and development platform, has signed a 97,606-square-foot lease renewal at 760 Market Street in San Francisco, California.

Newmark Vice Chairman Mike Brown, Executive Managing Director Roman Adler and Vice Chairman Bill Benton represented the owner, Phelan Building LLC, who tapped Newmark to lease and manage the 298,000-square-foot historic building in 2016. Brittan Hawken, JLL Senior Managing Director, along with Executive Vice President Hillary Hogan, represented the tenant.

“This lease renewal amid aggressive landlord pursuits speaks volumes about the building’s plug-and-play nature and strategic positioning,” said Patrick Hotung, President of Phelan Building LLC. “This transaction underscores the allure of this iconic property in a prime location and reflects a broader trend of tech companies solidifying their presence in San Francisco.”

760 Market offers high-end installations, natural light, window line on all floors and full HVAC throughout. With floor plates from 24,000 to 25,000 square feet, the property features full furnishings, large conference rooms, offices, phone rooms, kitchens and employee lounge areas.

“We’re excited to have retained one of San Francisco’s tech giants, a sign of the city’s post-pandemic resurgence,” said Brown. “This lease reaffirms that 760 Market Street remains a premier asset catering to the needs of our thriving tech community.”

Positioned at one of the main arteries for transportation downtown, 760 Market provides convenient access to several transportation hubs, including Powell Street BART & MUNI, the O’Farrell & Grant bus lines, Caltrain, the Ferry Building and the Central Subway. The property is conveniently located near a variety of dining and entertainment options, in an area known for its technology and innovation hubs.

[1] Dba Newmark Knight Frank in California

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2023, Newmark generated revenues of approximately $2.5 billion. Newmark’s company-owned offices, together with its business partners, operated from approximately 170 offices with 7,400 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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