Shartsis Friese to Relocate to 425 Market Street

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Prominent San Francisco law firm Shartsis Friese LLP has leased 26,000 square feet of office space at 425 Market Street, a LEED Platinum-certified skyscraper building within the city’s South Financial District in a deal brokered by Cushman & Wakefield and JLL.

Founded in 1975, the litigation practice which attracts a global clientele from the hedge fund and real estate sectors, promotes to deliver a ‘more personal service‘ to that offered by the biggest law firms in the United States.

Shartsis Friese LLP will relocate from offices at the nearby One Maritime Plaza which it has occupied for over three decades.

With just under a million square feet of leasable space, 425 Market Street is located at the corner of Fremont and Market street, adjacent to Embarcadero Bart Station.

Zach Siegel, an Executive Managing Director at Cushman & Wakefield and Managing Director Sam Wasserstein (an inaugural member of Commercial Real Estate Development Association, NAIOP’s NorCal Young Professionals Group), represented the landlord in the transaction – with JLL representing the tenant. 

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Currently 100 per cent leased, 425 Market was one of the first buildings in San Francisco to feature a high-speed transport system when it opened in 1973. Standing at 160 metres (520 feet), several of the office tower’s 38 floors will become available later this year and into 2024.

… [O]ne of the largest non-renewal lease deals in downtown so far in 2023.

Siegel says: “We were able to secure a lease with a prominent law firm for one of the upcoming availabilities in the building before it was vacated, indicating the quality and attractiveness of the property.

“According to Cushman & Wakefield’s market research group, this is one of the largest non-renewal lease deals in downtown so far in 2023.”

Other tenants of the development include multinational law firm Morrison & Foster LLP, national law firm Hanson Bridgett, Aon, IBM, and Kendo, as well as the popular restaurant, Barcha, which has been serving upscale Mediterranean fare at the building since 2015.

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FMIndustry.com covers the latest news, trends and opinion from the facilities management (FM) and corporate real estate (CRE) sectors. The FM market is currently estimated to be worth USD 1 trillion annually and is projected to grow at a compounded annualised rate of approximately 5% between now and 2026.

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