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208 Utah Street

Abridge Leases 80,000-Square-Foot Office Space At 208 Utah Street In San Francisco
LEASEDOffice

Abridge Leases 80,000-Square-Foot Office Space At 208 Utah Street In San Francisco

208 Utah Street

Building Size

80,000 SF

Asset Type

Office

Closing

Oct 8, 2025

AI

The property asset involved in the transaction is an 80,000-square-foot office building located at 208 Utah Street in San Francisco. It was recently leased to Abridge, an AI startup valued at $5.3 billion. The property was purchased by REDCO Development for $15 million, indicating significant investment in the San Francisco market.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $15 million
  • Square Footage: 80,000
  • Address: 208 Utah Street
  • Market: San Francisco
  • Landlord: Chris Freise & Jason Friese - REDCO Development
  • Tenant: Shiv Rao - Abridge

The deal was executed as part of Abridge's expansion strategy, moving from a 14,000-square-foot office in the Mission district. This lease reflects the ongoing demand for tech space in San Francisco, driven by the growth of companies within the technology sector.

Players

Chris Freise

REDCO Development

Landlord

$136.1M

vol

5 deals

Landlord
REDCO Development
REDCO DevelopmentLandlord
Shiv Rao

Shiv Rao

Abridge

Tenant

1 deal

Tenant
Abridge
AbridgeTenant

San Francisco Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93