Fast-growing Fintech startup, Chime, has leased 32,000sf of office space in a boutique office building close to Union Square. The new lease represents a big jump from the company’s existing 8,000sf space which they currently sublease at 116 New Montgomery St. The new, highly creative space is spread over three floors of a historic building and was recently built-out (and even mostly furnished!) for MuleSoft; however, MuleSoft was acquired by Salesforce before they moved in, and Salesforce put the kibosh on the move, electing to move the MuleSoft team into an existing Salesforce building instead.
Chime beat out a handful of other tech companies who attempted to quickly jump on the space due to the near-plug and play nature of the space. This is a theme that will continue to play out as long as construction costs remain in the stratosphere and tech company Boards remain hesitant to burn investor capital on TI construction.