140 New Montgomery to be new headquarters for Yelp Inc.

SAN FRANCISCO, May 10, 2012 /PRNewswire/ -- Stockbridge Capital Group and Wilson Meany announced Thursday that Yelp Inc. has agreed to locate its global headquarters at 140 New Montgomery Street, the iconic San Francisco office building.

Yelp, the company that connects people with great local businesses, has signed an eight-year lease for nearly 100,000 square feet in the Art Deco tower.  Yelp expects to move into 140 in the fall of 2013.

"Yelp was launched in San Francisco in 2004, just a few doors away from our future home of 140 New Montgomery,'' said Jeremy Stoppleman, CEO and co-founder of Yelp. "In the early days it was important for our team to be located in the heart of San Francisco, not only to draw in great talent, but to understand how consumers in a dense urban environment would use our product to connect with great local businesses.  We've always appreciated the neighborhood's easy access to public transportation, great restaurant options and a vibrant arts and culture scene, and we feel very fortunate to have found the perfect spot for our future home."

Adjacent to the San Francisco Museum of Modern Art (SFMOMA), 140 is ideally situated in the center of San Francisco's business and arts district, making for a lively 24-hour neighborhood.

"We are thrilled to welcome Yelp as the initial tenant to 140," said Terry Fancher of Stockbridge Capital Group.  "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.'' 

Completed in 1925, 140 served as the long-time home of the Pacific Telephone & Telegraph Co.  The 295,000 square-foot structure is undergoing a major renovation, including all new building systems, a complete seismic upgrade, and the creation of unique amenities including a private sculpture garden, secure bike parking, a well-appointed shower and locker suite, and first-class ground-floor retail.  140 also is close to numerous public transit options and is next door to a 411-space parking garage.

"We appreciate the enthusiasm Yelp has shown for 140,'' said Chris Meany of Wilson Meany.  "As we continue to share the story of the rebirth of this great building, we hope to have more news in the months ahead." 

ABOUT STOCKBRIDGE CAPITAL GROUP
Stockbridge Capital Group, LLC (together with its affiliates, "Stockbridge") is a real estate investment management firm which, together with its affiliates, had approximately $4.5 billion in real estate and real estate-related assets under management as of December 31, 2011.  Stockbridge's investment portfolio comprises more than 30 million square feet of existing office, industrial, retail, hospitality and residential properties throughout the United States. In addition to real estate ownership, Stockbridge also specializes in large-scale development and redevelopment projects. Stockbridge is headquartered in San Francisco with offices and personnel in Chicago, New York, Los Angeles and Atlanta. For more information, please visit www.stockbridgerealestate.com. 

ABOUT WILSON MEANY
Wilson Meany is a privately owned real estate investment and development firm focused on urban infill locations in the Western United States. Wilson Meany brings more than 35 years of experience to its mixed-use, residential, retail and office developments, all of which reflect the company's commitment to integrity, innovation and quality, including San Francisco's renowned Ferry Building. Founded in 2003, Wilson Meany and its predecessor entities have long been recognized among the most respected and consistently successful investment and development firms in the San Francisco Bay Area. Collectively, Wilson Meany's partners and professionals have developed more than 10 million square feet, including some of the most innovative and distinctive properties in California. For more information, please visit www.wilsonmeany.com.

SOURCE Wilson Meany