| While SOMA grabs all the glory for the tech and gaming companies, a few transactions continue to defy this. Pocket Gems, a developer of free mobile gaming apps (Tap Farm, Tap Zoo), just signed a 39k SF long-term lease in the Mills Building at 220 Montgomery St for its new HQ. CBRE SVP Meade Boutwell notes it’s in the traditionalFinancial District, north of Market. He repped Mills owner/manager The Swig Co with Christian Devlin. (Jones Lang LaSalle’s TravisJames and Jamie Saunders repped Pocket Gems.) Meade tells us the building had 60k SF that became vacant recently after 50 yearsof occupancy, and most of it has been re-leased to creative-type users. He says tech firms want to have the right feel, and if it happens to be in a great location, they’re perfectly fine being there. |
| The Mills Building consists of a 22-story tower and 10-story annex. It also features a 155-car parking garage (double if everyone drives a Smart Car, or if everyone's dad just parks as good as boast they do). Meade tells us the majority of the historic building was Class-A office space in a classical Class-B building—covered in plaster withdropped ceilings. The CBRE team convinced the owner to remove the improvements and take the building to a raw shell, exposing the concrete forms and beautiful details of the original construction. The space received numerous offers, says Meade. Also, guess who just began a term as president of BOMA San Francisco? It's Meade. (Lucky guess.) He’s also on the board of the USGBC of Northern California and bikes 21 miles to work a couple times a week on hisMasi. |
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