The company is relocating, consolidating and expanding its 400-person San Francisco operation from the Landmark at One Market, where it leases 93,000 square feet, and 50 California St., where it leases an additional 19,000 square feet. The term of the new lease begins on April 1 and expires on March 31, 2021, not including two five-year extension options, according to the lease agreement. The expiration of its existing leases at the Land mark and 50 California were not immediately available.

The company is scheduled to be delivered the top two floors on March 1, 2010, followed by the sixth and seventh floors in August 2010 and the second, third and fourth floors in November 2010. It also has options for the ninth and nineteenth floors, as well as the right of first refusal for any space that comes available on the fifth, eighth, 10th, 21st, 22nd and 23rd floors. The ninth-floor is currently occupied by Cushman & Wakefield through mid-2013. Del Monte must give notice of its intent to take down the space one year prior to C&W's lease expiration. The 19th floor is not expected to be available until 2016.

One Maritime Plaza is a 25-story, 526,464-square-foot [net rentable] office tower at the north end of the Financial District, providing it water views from even the lower floors. It is among the top tier of office buildings in the city. Del Monte omitted the financial terms of the lease from the lease agreement filed with the SEC but local industry sources tell GlobeSt.com Del Monte will be paying a "market lease rate."