Leasing activity at 140 New Montgomery St. in San Francisco has accelerated, with CBRE and Pembroke confirming that only one office floor remains available at the property.
Reflection AI, an artificial intelligence start-up building frontier open-source models, and A*, an early-stage venture capital firm that backs outlier founders from idea to IPO, have signed leases totaling a combined 30,000 square feet at the building. Their commitments, together with the renewal of Calendly, have moved the property to near full occupancy.
Dean McPadden, first vice president at CBRE, said San Francisco’s office market is seeing some of its strongest leasing momentum in years, citing the rapid expansion of AI and next-generation technology firms as a key driver. He added that these new deals underscore how workplaces that support innovation and collaboration are increasingly important to company culture.
On the ownership side, Pembroke was represented in the leasing by a CBRE team that included McPadden, Bill Cumbelich and Jack Beritzhoff. Reflection AI was represented by Hugh Scott of JLL, while Carter Beim of Colliers represented A*. JLL’s Hugh Scott, Derek Johnson and Jack Nelson represented Calendly in its renewal at the property.
With the latest leases signed and Calendly recommitting to its space, 140 New Montgomery is now down to a single remaining office floor available for lease in a San Francisco market where AI and technology tenants are playing an increasingly prominent role in demand.
