Macy's Web Unit Takes 70,000 SF at 685 Market

SAN FRANCISCO-Macys.com, the online division of the national retailer, is consolidating and expanding its operations at the Monadnock Building. The 10-story 190,365-sf historic office property is located at 685 Market St., adjacent to the Hearst Building and the Palace Hotel.

Macys.com signed a 10-year lease for the top three floors of the building, which total 56,500 sf, and a month-to-month lease for an additional 13,000 sf on the sixth floor. It occupied the space on the sixth floor immediately and expects to occupy the top three floors shortly after tenant improvements are complete in April.

Scott Harper of Colliers International represented the building owner, Prudential. Harper says there’s a strong possibility that Macys.com will decide to retain the sixth floor space on a permanent basis, dropping availability in the building to just 6,000 sf. Dan Cressman of Grubb & Ellis represented Macy’s. He did not return a Friday phone call seeking comment.