TMG Partners, one of the San Francisco Bay Area’s largest mixed-use property developers, signed a lease with global venture capital firm Lightspeed Venture Partners for a 43,248-square-foot, 12-year lease at 149 New Montgomery, a Class A, 80,000-square-foot office building in San Francisco’s South Financial District.

“Securing a long-term commitment from Lightspeed not only validates the attraction to the repositioned 149 New Montgomery — with significant creative office amenities begun after we acquired the building with Bridges Capital — but to the access and dynamism of this part of Downtown,” said TMG Partners Co-CEO and Chief Investment Officer Ben Kochalski. “This lease demonstrates that best-in-class companies continue to choose San Francisco when the space delivers quality, flexibility, access, and a compelling employee experience.”

The lease spans the first, fourth, fifth, and sixth floors of the building, including exclusive access to a private rooftop deck with sweeping views of the City’s skyline – a distinctive indoor-outdoor element rarely found in Downtown office environments. The submarket has attracted tech, AI, and professional services firms due to its exceptional location blocks from Market Street, Salesforce Transit Center, and Yerba Buena/Moscone Center, with multiple transit nodes within a four-minute walk.

149 New Montgomery Street is a classic San Francisco office property that continues to undergo significant base building and lobby renovations, including upgraded building systems and modernized common areas enabling the delivery of a customized, first-class workspace featuring collaborative areas and offices.

Avison Young represented TMG, and JLL represented Lightspeed. Legal counsel included Allen Matkins for the landlord and Shartsis Friese for the tenant.

The property is an 80,000-rentable-square-foot, six-story office building located in the New Montgomery corridor. Originally constructed in 1907 with floors five and six added in the 1930s, the building houses high-tech companies with retail shops at street level, including restaurant Café Madeleine.

About TMG Partners

TMG Partners, founded in 1984 and headquartered in San Francisco, is one of the Bay Area’s largest and most active mixed-use property development and management companies. TMG has more than 33 million square feet across every major city in the Region, including Oakland, San Francisco, Marin, and San Jose. The $6.8B portfolio includes a broad spectrum of office, retail, residential, and industrial properties, ranging from office campus and multi-story properties in urban-infill locations to mixed-use and single-story suburban buildings. Throughout its four decades of leadership in civic organizations, TMG has invested in the Bay Area’s growth and cyclical reinvention across housing, office, and retail. For detailed information, visit TMG Partners. LinkedIn

About Lightspeed Venture Partners

Lightspeed is a global, multi-stage, venture capital firm managing over $50B in assets. We’ve been a major backer of AI since 2012, investing over $7.5B in more than 180 AI companies including Anthropic, Glean, and Mistral. Learn more about the firm, team, and why we’re bullish on AI’s potential to transform the world at lsvp.com.