Thor Equities Brings San Francisco Business Leader and Digital Visionary to Prime Property
SAN FRANCISCO, Jan. 18, 2013 /PRNewswire/ -- Thor Equities' prime 760 Market Street property has leased a major three level space to The Obvious Corporation, led by tech pioneer Evan Williams, Thor CEO Joseph Sitt announced today. Williams, the visionary behind Blogger and Twitter has joined Biz Stone in stepping away from active, day-to-day stewardship of Twitter to refocus his attention on nurturing and expanding The Obvious Corporation (Obvious), a firm that fosters ideas that are poised to change the world. Obvious recently launched Medium, a new publishing platform, to change the way we disseminate ideas online.
Obvious' lease follows Thor's extensive renovation and repositioning of the Phelan Building, also known as "The Flatiron Building of San Francisco," which sits at the prime corner of Market and O'Farrell. This location is the heart of a growing hotbed of trendsetting tech companies, who are flocking into the area from Silicon Valley, as well as the SOMA district. Thor's renovation has won accolades from tenants and critics alike, who note a contemporary vibe inside and respect for the building's rich history preserved on the exterior. Obvious joins tech leaders Voxer and Appirio in the city's newest tech hub on Market Street.
"San Francisco real estate is white-hot right now, as digital entrepreneurs flock into the creative, urban city center from Silicon Valley," said Thor Equities CEO Joseph Sitt. "The neighborhood surrounding the Phelan Building at 760 Market is the epicenter of this trend – it is attracting wave after wave of tech leaders who can live, work and play and take communications to unimagined heights. I can't wait to see what happens next."
"We need the right space from which to grow the Medium team and position Obvious to focus on bringing our new ideas to life," said Obvious Corp. CEO Evan Williams. "We're excited to get three custom floors on Market Street, in the heart of downtown. Being surrounded by like-minded peers in a creative space also serves as an inspiration."
Underlining his long-term commitment to the venture, Obvious signed a long-term 8-year lease. Williams' ambitious plans include opening up the 75,000 square foot space, loft-style, and fully building in his own signature tech infrastructure. Jenny Haeg of Custom Spaces Inc., the leading tech and startup focused commercial real estate firm in San Francisco, represented Obvious in this deal.
About Thor Equities
Thor Equities is a global leader in urban real estate development, leasing and management, pursuing premier hotel, commercial, residential, retail and mixed-use assets in high-density areas. Through its brokerage affiliate, Thor High Street, it is also a premier leasing agent for third-party property owners and exclusively represents global retailers in their search for prime urban locations in North America, Europe and Latin America. Thor Equities provides the best possible "High Street" retail, commercial, hotel and mixed-use building environments within urban centers across the United States – all while delivering attractive, risk-adjusted returns to high net work and institutional investors. For more information about the company, visit www.thorequities.com.
SOURCE Thor Equities