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Tech Unicorn Leases in South Financial District

Grocery shopping app Instacart just signed a lease for 60k SF at 50 Beale. The popular startup boasts a $2B valuation, making it one of S.F.'s largest unicorns. It's growing out of 13k SF in South Park at 420 Bryant. In its new digs the company will be close to the incoming Transbay Transit Center, reports the San Francisco Business Times. Trading SoMa for FiDi is becoming the norm as growing companies need ample square footage. JLL repped landlord Paramount. The NYC real estate firm, which bought the 662k SF building last year, continues to stuff more and more tech companies into its tenant spaces. It also owns One Market, which has a big lease from Google. [SFBT]

Related Topics: Paramount, Instacart, 420 Bryant