According to a report from the San Francisco Business Times, Wells Fargo Advisors has recently renewed and expanded their lease at 555 California St. in San Francisco. The deal will allow the firm to remain in their current space at the prestigious office tower for another decade. The investment and brokerage division of Wells Fargo will continue occupying approximately 30,000 square feet on the 23rd floor, while also expanding by an additional 16,000 square feet. This commitment secures their larger footprint within the building for approximately eleven years.
During an earnings call this week, Vornado Realty Trust confirmed that they closed this deal in the third quarter of this year. Vornado owns a majority stake in 555 California’s total area of over one million square feet while Trump Organization holds a minority stake.
Michael Franco, president of Vornado Realty Trust stated last week that their leasing program at 555 California is performing better than other areas within San Francisco’s market.
