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Catellus Development Corp. Terminates Lease with Struggling Internet Firm

SAN FRANCISCO-In November, Chicago-based marchFIRST signed a 12-year lease for 270,000 sf in Catellus' 303-acre Mission Bay project, which broke ground last year. Catellus officials are describing the lease termination was "a mutual agreement.

By Becky Bergman | Updated on January 17, 2001

SAN FRANCISCO-Catellus Development Corp. terminated a major lease agreement Tuesday for space in its 303-acre Mission Bay project, which broke ground last year. In November, Chicago-based marchFIRST signed a 12-year lease for 270,000 sf in the development. Catellus officials are describing the lease termination was “a mutual agreement” that will allow marchFIRST to reorganize and give Catellus time to re-lease the space before its completion. Catellus is developing a 1.3-million-sf office campus in five planned low- to mid-rise buildings

The Mission Bay site was supposed to help marchFIRST consolidate several of its offices around San Francisco. Currently, the company’s 750 employees occupy 750,000 sf in five different buildings in the city on Spear and Pacific avenues and California, Brennan and Townsend streets.

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