It's only one lease, but a lot of office owners and operators in San Francisco are fervently hoping we look back on it later this year as a bright green shoot that signaled the beginning of a turnaround for the city's downtown office market.

Rippling, a work management software company, is upgrading its San Francisco headquarters with a much larger office footprint—in downtown San Francisco.

The tech firm, which currently leases 30K SF at 55 Second Street, has inked a deal for 123K SF at 430 California Street. Rippling is planning to occupy the 11th through 19th floors at the downtown office tower, according to a report in the San Francisco Chronicle.

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