600 Battery St.
Cryptocurrency firm Ripple is relocating from its headquarters from 315 Montgomery St. to 600 Battery St.
The 600 Battery St. location has been owned by a three way partnership of TMG Partners and Invesco since 2019. At the time of the purchase, the 125K SF property was totally occupied by IPG, a media firm, and now Ripple will totally occupy the constructing, TMG and Invesco stated in a launch. The San Francisco Business Times first reported the news.
Phil Tippett and Conor Famulener of CBRE represented the owner within the transaction. Ripple was represented by JLL’s Brittan Hawken, Derek Johnson and Travis James.
IPG couldn’t be reached for touch upon what this implies for its future within the workplace area. The company’s website nonetheless lists its 600 Battery St. workplaces beneath its UM media model, although the UM web site lists its location as 45 Fremont St.
Public data point out 315 Montgomery St. is owned by Vornado Realty Trust. Vornado declined to remark.
There was a flurry of workplace relocations in San Francisco over the previous 12 months, notably among the many tech and e-commerce segments. PayPal is reportedly leaving its area at 425 Market St. Cryptocurrency firm Okcoin is moving into an workplace tower in downtown San Jose, doubtlessly relocating out of its Financial District workplaces.