We are extremely pleased to welcome Trulia, its management team and employees into this great space.
San Francisco, CA (PRWEB) June 2, 2010
Broad Street San Francisco and CWR Holdings is proud to announce the recent signing of Trulia to a lease for approximately 32,000 sqft in the Rialto Building, located at 116 New Montgomery Street in the heart of San Francisco's South Financial District. This caps off over 100,000 square feet of new leasing activity within the Historical Class B building over the past 18 months despite a weakened leasing market and economic conditions. With these new leases, of which only 5% were renewals, the building's stabilized occupancy rate is over 92%.
Trulia, Inc. (http://www.trulia.com), is a residential real estate search engine and the fastest-growing U.S. real estate Web site which continues to revolutionize online home search by offering a rich, intuitive user experience that points consumers directly to listings on agent and broker Web sites.
Steven Firtel, Managing Director of Bomel Companies, serves as the ownership representative and asset manager for the property while also serving as legal counsel in lease negotiations. Charlie Withers, Vice President at the CAC Group provides representation for the owner. Jonathan Allen and Marc Trovato of Cornish & Carey Commercial represented Trulia in this transaction.
"We are extremely pleased to welcome Trulia, its management team and employees into this great space." Firtel said. "Additionally, we are thrilled with the successful releasing run we continue to have within the building following our restoration of the historic building lobby, elevators cabs and the continued improvements we are making to the office floor common areas and accompanying tenant spaces."
116 New Montgomery Street, the Rialto Building, has seen a complete transformation within the building starting with the main building lobby and historic staircase to the modernization and complete overhaul of the vast majority of the office space within the building. Working closely with a dedicated team at RN Field, ownership has brought back to life the once tired office spaces within this building and have molded the new spaces with the historical character and grandeur of this late 19th century Meyer & O'Brien designed property.
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