DocuSign®, The Global Standard for Digital Transaction Management®,
Becomes Anchor Tenant with Expanded Lease
ATLANTA--(BUSINESS WIRE)--
Columbia Property Trust, Inc. (NYSE:CXP) announced that it has executed
a lease expansion and extension with DocuSign, Inc. (DocuSign), the
global standard for digital transaction management, making it an anchor
tenant at 221 Main Street in San Francisco. The transaction will
ultimately triple DocuSign’s presence at the property and extend its
term through March 2024. Additional terms of the lease were not
disclosed.
When Columbia Property Trust purchased the 388,000-square-foot, Class-A
office building in San Francisco’s North Financial District in April
2014, 221 Main Street was 81% leased with rents well below market.
Coupled with earlier leasing successes, this showcase property is now
over 95% leased, with DocuSign expanding into additional space in
several phases beginning in the second quarter of 2015.
“We are thrilled to have forged a relationship with DocuSign that
resulted in not only extending, but also significantly expanding, their
presence at 221 Main Street,” said Nelson Mills, President and CEO of
Columbia Property Trust. “Our team worked diligently and creatively to
accommodate the full space needs of their rapidly growing enterprise
within one property, to their benefit and ours, and we look forward to a
long relationship with them.”
“This transaction, which will bring 221 Main Street to substantially
full occupancy more swiftly and at higher rents than our initial
underwriting, demonstrates the momentum we are creating in our Bay Area
portfolio, which, in addition to 221 Main Street, includes our most
recent acquisition, 650 California Street, as well as University Circle
in Palo Alto and our property fully leased to Wells Fargo Bank at 333
Market Street,” continued Mills.
“Our regional team has worked to not only capitalize on ideal market
conditions in the area but to also meet our tenants’ needs while
maximizing the opportunity for value creation for our shareholders.”
About Columbia Property Trust
Columbia Property Trust, a publicly traded REIT, invests in high-quality
commercial office properties in primary markets nationwide and has
achieved an investment-grade rating from both Moody's and Standard &
Poor’s rating services. As of February 12, 2015, Columbia Property
Trust's portfolio consisted of 38 office properties and one hotel, which
included 55 operational buildings and comprised approximately 16.6
million square feet, located in 15 U.S. metropolitan statistical areas
(MSAs). For information about Columbia Property Trust, visit www.ColumbiaPropertyTrust.com.
Forward-Looking Statements:
Certain statements contained in this press release other than
historical facts may be considered forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. We intend for all such
forward-looking statements to be covered by the applicable safe harbor
provisions for forward-looking statements contained in those acts. Such
statements include, in particular, statements about our plans,
strategies, and prospects and are subject to certain risks and
uncertainties, including known and unknown risks, which could cause
actual results to differ materially from those projected or anticipated.
Therefore, such statements are not intended to be a guarantee of our
performance in future periods. Such forward-looking statements can
generally be identified by our use of forward-looking terminology such
as "may," "will," "expect," "intend," "anticipate," "estimate,"
"believe," "continue," or other similar words. Readers are cautioned not
to place undue reliance on these forward-looking statements, which speak
only as of the date of this press release. We make no representations or
warranties (express or implied) about the accuracy of any such
forward-looking statements contained in this press release, and we do
not intend to publicly update or revise any forward-looking statements,
whether as a result of new information, future events, or otherwise.
Any such forward-looking statements are subject to risks,
uncertainties, and other factors and are based on a number of
assumptions involving judgments with respect to, among other things,
future economic, competitive, and market conditions, all of which are
difficult or impossible to predict accurately. To the extent that our
assumptions differ from actual conditions, our ability to accurately
anticipate results expressed in such forward-looking statements,
including our ability to generate positive cash flow from operations,
make distributions to stockholders, and maintain the value of our real
estate properties, may be significantly hindered. See Item 1A in the
Company's most recently filed Annual Report on Form 10-K for the year
ended December 31, 2014, for a discussion of some of the risks and
uncertainties that could cause actual results to differ materially from
those presented in our forward-looking statements. The risk factors
described in our Annual Report are not the only ones we face, but do
represent those risks and uncertainties that we believe are material to
us. Additional risks and uncertainties not currently known to us or that
we currently deem immaterial may also harm our business.

Columbia Property Trust, Inc.
Krister Romeyn, 404-465-2231
or
Jim
Fleming, 404-465-2200
IR@columbiapropertytrust.com
Source: Columbia Property Trust, Inc.