LEASEDOffice
Dan Springer Of Ironclad Finalizes Lease For 54000 Square Feet At 650 California Street
650 California Street
Building Size
54,000 SF
Asset Type
Office
Closing
Oct 24, 2025
AI
The asset involved is an office space located at 650 California Street in San Francisco, comprising 54,000 square feet. This property is part of the San Francisco office market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 650 California Street
- Market: San Francisco
- Landlord: Adam Frazier - Columbia Property Trust
- Tenant: Dan Springer - Ironclad
This direct lease is a move by Ironclad Inc., taking over the space as Affirm prepares to vacate. The transaction highlights ongoing tenant repositioning within the market.
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