Yelp Inc. (YELP:US), the website that allows people to comment on businesses and services, will make its global headquarters in a historic San Francisco office tower.
Yelp agreed to lease almost 100,000 square feet (9,300 square meters) at 140 New Montgomery St., an art deco high-rise near the San Francisco Museum of Modern Art in the South of Market area, San Francisco-based co-owners Stockbridge Capital Group LLC and Wilson Meany said today in a statement. The Internet company plans to relocate in the fall of 2013, a “few doors away” from where it began in 2004, said Jeremy Stoppelman, Yelp’s co-founder and chief executive officer.
“Yelp represents exactly the type of tenant we have envisioned for this location, an industry leader driving innovation and commerce by combining technology and community,” Terry Fancher, executive managing director of Stockbridge, said in the statement.
The 26-story tower has 295,000 square feet and was the longtime home of Pacific Telephone & Telegraph Co., the companies said. Completed in 1925, the property is undergoing a renovation that includes a seismic upgrade, sculpture garden, secure bicycle parking, showers and locker rooms. A 411-slot parking garage is located next door.
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