Alden Millard And Peter Brindley Of Simpson Thacher Lease 32000 SF Office In San Francisco

The asset involved in this transaction is an office space measuring 32,000 square feet located at 1 Market Street in the San Francisco market. This lease deal comes as a part of efforts to address the significant 35.8% citywide office vacancy rate. The office space becomes part of Google’s previously occupied 342,000-square-foot area following the expiration of their lease.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not specified
• Square Footage: 32,000 SF
• Address: 1 Market Street
• Market: San Francisco
• Landlord: Albert Behler - Paramount Group
• Landlord: Stephen A. Schwarzman - Blackstone
• Tenant: Alden Millard & Peter Brindley - Simpson Thacher

The deal marks Simpson Thacher as the first tenant to occupy part of the vacant office space after Google’s departure. This transaction represents a significant development for landlords Paramount Group and Blackstone as they navigate challenges posed by a projected drop in occupancy at the complex to 72%.