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Wells Fargo Unit Expands Offices at Vornado’s 555 California
Wells Fargo Advisors took 46,000 square feet at 555 California St. in San Francisco, a renewal-expansion deal that will see the firm remain in its space at the trophy office tower through the next decade, the San Francisco Business Times reported. The investing and brokerage arm of Wells Fargo renewed its lease for roughly 30,000 square feet across the 23rd floor of 555 California and grew its footprint by roughly 16,000 square feet, committing to its new larger footprint in the building for approximately 11 years.
Vornado Realty Trust, which owns a majority stake in the 1.8-million-square-foot 555 California, confirmed the deal closed in the third quarter during an earnings call this week. The Trump Organization owns a minority stake in 555 California.
Michael Franco, president of Vornado, told analysts last week the company’s leasing program at 555 California is outpacing the rest of San Francisco’s market.
- ◦Lease
