Financial Tech Company Affirm Adds Second Location In Downtown San Francisco
Brickman and GreenOak have leased 46K SF to Affirm at 550 Kearny St. This will be Affirm’s second location in San Francisco since it relocated its headquarters to 650 California St., where it signed an eight-year, 86K SF lease. Brickman acquired the 10-story, 193K SF Class-A office at 550 Kearny in 2013 and added features like bike storage.
Affirm, a financial technology company, has doubled in size this year, Affirm Workplace Experience Lead Russell Kamp said.
“As we scale, it’s a priority to keep our close-knit community of employees together, and this new space allows us to do just that,” Kemp said.
Affirm is just one of many tech companies that have been leasing over 40K SF in San Francisco in recent years. Samsara Networks, Google and New Relic signed leases for over 40K SF during the first quarter. Facebook signed a lease for the entirety of Park Tower earlier in May breaking the record for the largest lease signed in San Francisco. Tech companies leased over 3M SF in San Francisco in 2017.
Space over 20K SF is becoming less available in the city. By the end of the first quarter, there were only 32 active listings for 20K SF or larger, according to a Cushman & Wakefield report. A majority of the office space available was 5K SF or less with 254 active listings.
CBRE Vice Chairman Jenny Haeg and Senior Vice President Nathan Zoucha represented Affirm, and Newmark Cornish & Carey Senior Managing Director Bart O’Connor and Director Aaron Gillespie represented Brickman/GreenOak.