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
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