Valleywag
The likely closure of troubled online retailer RedEnvelope has a benefit for space-hungry startups near its SoMa headquarters at 149 New Montgomery. Yelp and Slide are among the rapidly expanding companies in the neighborhood. I asked Yelp CEO Jeremy Stoppelman if he was going to swoop in on the space. "I wish 'cause it looks like a cool building, but we recently added space at 706 Mission so I think we're locked in there for a while," he told me. No word from Slide CEO Max Levchin. RedEnvelope signed a five-year lease in July 2004, with a base rent of $51,332 a month for 28,000 square feet. (Photo by Google Street View)
RedEnvelope failure frees up SoMa space
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1:40 PM on Fri Apr 4 2008
By Owen Thomas
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4 comments
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space at 149 new montgomery There is now four full floors available at 149 New Montogomery. Perpetual Entertainment (a seemingly crappy game studio) went belly up last month leaving two floors open. Bad couple months to be that owner.
$22/sq ft is an excellent price for SOMA - Red Envelope must have had a great negotiator
I'll put money on retail mix moving into the space.
Anyone know when the garage sale is going to be? I could use a new Aeron chair.
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