Thursday, December 3, 2009

Chron leases part of building to tech startups

The Chronicle reports that it is leasing 24,700 square feet of space in its building at 5th and Mission to three  technology companies.

Two of the companies, Hub Bay Area and TechShop, are "incubators" that will provide space, funding and counseling to startups. The third is called Square and is led by Twitter co-founder Jack Dorsey. It develops technology to enable average people to conduct digital financial transactions, including a small credit card swiping device that connects to the audio jack of smart phones, according to the Chron report.

Last year, Hearst Corp., owner of the Chron, announced it had reached a development deal with Forest City Enterprises of Cleveland to explore development options for the four-acre 5th and Mission site. One scenario would be to move the newspaper's offices to another San Fraancisco location and redevelop the entire site.

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