Intuit Expands Lease at 22 Fourth Street

SAN FRANCISCO-After completing a multimillion dollar renovation to 22 Fourth Street, investment and management firm Jamestown has inked a long-term lease for Intuit Inc.

Demandforce, a division of Intuit's Small Business segment, will occupy the entire office portion of the building, comprised of approximately 200,000 square feet on floors 3 - 16. The Container Store currently occupies 29,245 square feet of retail space on floors one and two.

Jamestown says it has added “a youthful vibrancy” to the property by creating an environment with desired amenities such as a bike-friendly work space, including an onsite bike room and bike repair station.

A recently completed renovation of the lobby at 22 Fourth features a living green wall, water element with digital media, and a fully operational coffee bar and cafe concept by Small Foods, in addition to other amenities. Jamestown will continue with the renovation and repositioning of the building through 2014, with other base-building and service upgrades including the addition of a dog park adjacent to the building.

“Jamestown is focused on the needs of an evolving workforce and we worked hard to provide amenities that will continue to make Downtown San Francisco one of the hippest places to work,” said Michael Phillips, chief operating officer of Jamestown. “We're pleased that Intuit has been inspired to continue their commitment to the area and keep San Francisco's innovation economy going strong.” 

Demandforce, a leading online marketing and communication software company acquired by Intuit in 2012, has been a tenant at 22 Fourth since November 2009. The new lease will provide for Intuit's continued occupancy and expansion. Intuit is expected to begin expanding into the full building beginning in the spring of 2015.

Jamestown acquired 22 Fourth in 2004 and also owns two neighboring buildings—the mixed-use property at 801 Market, housing Old Navy, Levi's and the Hotel Palomar, and 799 Market, located directly across the street on the southeast corner of Fourth and Market and home to leading innovation companies including Prism Skylabs and Akamai Technologies, Inc.

Wes Powell and Karen Wells of Jones Lang LaSalle represented Jamestown in the transaction.  Bart Lammersen, Paul Bryant, and Chris Holland, also of Jones Lang, handled the negotiations on behalf of Intuit.

Founded in 1983 with headquarters in Atlanta, and in Cologne, Jamestown is a leader in acquisitions and value added management.