The Presidio Trust has executed a 40,000-square-foot lease with Canopy, a boutique co-working and flexible office provider, for the entire building at 102 Montgomery St. within the Presidio. The agreement brings back into use the last historic brick structure on the Presidio’s Main Post to be restored and activated and stands out as one of the largest leases signed in the San Francisco landmark complex so far this year.
Constructed in 1896, the brick building had remained vacant for decades, sitting unused since the 1970s. The Presidio Trust undertook an 18-month, full-scale rehabilitation of the property, a process that modernized the historic structure while preparing it for contemporary workplace needs. With the lease now in place, the building transitions from long-term vacancy to a fully committed office asset.
The new lease expands Canopy’s footprint within the city, as this location will join three existing Canopy sites in San Francisco. By taking the full building, Canopy is positioning the property to function as a dedicated co-working and flexible office hub, targeting users drawn to a park-adjacent environment and historic architecture. The commitment also establishes a new workplace node within the broader Presidio campus.
The Presidio Trust views the transaction as part of a broader strategy to activate and program the Main Post with a mix of uses. By pairing historic rehabilitation with a single-tenant lease to a shared office provider, the Trust both preserves legacy structures and aligns them with current demand for flexible workspace. The result is a shift from dormant square footage to an income-generating, occupied office building.
The Trust’s interim director of commercial asset management, Daryl Ansel, emphasized the role of workplaces within the Presidio in fostering engagement with the surrounding park. Welcoming Canopy to 102 Montgomery St. is intended to strengthen the Presidio’s vitality, support an active tenant community, and create new opportunities for people to work, connect, and interact with the historic setting.
Canopy’s new location at 102 Montgomery St. is expected to open in the spring of 2027, following completion of interior build-out tailored to co-working and flexible office operations. Once operational, the property will represent a fully leased, rehabilitated historic building integrated into the Presidio’s evolving commercial and community landscape.
