April 22nd, 2010
Plan for new Transbay Terminal in, under budget
San Francisco Chronicle
By John King
April 22nd, 2010
The iconic tower intended to come first is nowhere in sight, but San Francisco’s new Transbay Terminal is ready to go.
There are still plans for a 5.4-acre park that will rest atop three levels of shops and bus platforms, 70 feet in the air. The architecture retains the glassy futurism of the concept selected with fanfare in 2007.
Now, after two years of tweaking, the completed terminal design will be presented today to the Transbay Joint Powers Authority. Officials say the first stage of construction - demolition of the existing terminal at First and Mission streets - should begin in August or September.
Under this scenario, the $1.189 billion terminal would open for bus service by 2017. An additional $400 million will be spent to build a shell beneath ground that will eventually house a train platform and concourse. (Read More…)
April 9th, 2010
Deloitte nears big lease in San Francisco
San Francisco Business Times
By J.K. Dineen
April 9th, 2010
Consulting giant Deloitte & Touche has signed a preliminary agreement to lease 180,000 square feet at Tishman Speyer’s 555 Mission St., a deal that would fill up most of the remaining empty space in San Francisco’s newest office tower.
Under the 15-year agreement Deloitte would occupy 10 floors throughout the middle and upper levels of the building. Landlord Tishman Speyer would pony up most of a $12 million cash “kill fee” Deloitte must pay to terminate its existing lease (Read More…)
April 8th, 2010
Activision Finds 4 to Sublease S.F. Office Space
The CoStar Group
By Alexis Van Noy
April 6th, 2010
BrightTALK, a webcasting company, signed a 7,500-square-foot sublease on the second floor.
Practice Fusion, a free, web-based electronic health record system, inked a 7,500-square-foot deal on the first floor. (Read More…)
March 26th, 2010
S.F. investor Sierra Maestra pays $4.3M for 153 Kearny
The San Francisco Business Times
By J.K. Dineen
March 26th, 2010
The price Sierra Maesta Properties paid for the Class B building was not disclosed, but sources familiar with the transaction put it at about $4.3 million, a rock-bottom price of $80 a square foot. The seller was Amalgamated Bank, which foreclosed on the property. The prior owner was Ray Tonsing, who spent three years entitling the building for downtown lofts. He subsequently had a change of heart and unsuccessfully attempted to unload it as an office building for $18.5 million in 2007 when that market was peaking. (Read More…)
March 5th, 2010
Citigroup Center going back to lender
The San Francisco Business Times
By J.K. Dineen
March 5th, 2010
In late March, Prudential will take title to the 550,000-square-foot tower, called the Citigroup Center, and has brought on the Barker Pacific Group to manage the property, according to multiple sources familiar with the transaction.
The deal comes on the heels of Morgan Stanley’s decision to transfer five office buildings to AREA Property Partners and Hines’ calculated move to default on 333 Bush St., which paved the way for Brookfield Real Estate Finance to take ownership. In recent months, nine downtown San Francisco office properties, totaling more than (Read More…)
February 22nd, 2010
SFMOMA, city reach land agreement, allowing for museum expansion
The San Francisco Business Times
By Sarah Duxbury
February 22nd, 2010
The city and SFMOMA have reached a land agreement that is critical to the art museum’s planned expansion.
Under the agreement, announced today by Mayor Gavin Newsom’s office, the city will give SFMOMA the existing fire station on Howard Street. In exchange, the museum will build the city a state-of-the-art fire station on Folsom Street, a deal that essentially translates to a $10 million gift from museum leadership to San Francisco, the mayor’s office said. (Read More…)
February 16th, 2010
The 222 Second Street Scoop
Socketsite
February 16th, 2010
While truly plugged-in people have known about the proposed development of 222 Second Street on the corner of Howard for well over two years, details for the proposed 26-story development are now online via a Draft Environmental Impact Report (EIR).
As proposed, the project would be a rectilinear tower of diminishing bulk from the building base to a height of approximately 350 feet. At the fifth floor, the north façade of the building would be set back 5 feet from Howard Street and the west façade would be set back approximately 20 feet from the westerly property line. At the 17th story, the east façade would be set back 24.5 feet from Second Street, and the South façade would be set back 44.5 feet from Tehama Street. In addition, the fifth floor would include a further 5-foot recess, or “reveal,” on all four facades, (Read More…)
February 16th, 2010
Yelp Expands Office Space at 706 Mission
The CoStar Group
By Dan Bates
February 16th, 2010
January 27th, 2010
Morris, Polich & Purdy Leases 20,178 SF
The CoStar Group
By Lauren Greenwald
January 27th, 2010
(Read More…)
January 27th, 2010
Benefit Cosmetics Takes 52,580 SF
The Costar Group
By Ryan Munneke
January 27th, 2010
Benefit Cosmetics signed a 10-year lease for 52,580 square feet at 225 Bush St. in San Francisco.
The company will take the top three floors of the building in July. The building is the former Standard Oil headquarters from 1928 to the early 1970s.
Shap Roeder and Jak Churton of CB Richard Ellis represented the tenant. Karen Wells and Wes Powell of Jones Lang LaSalle of San Francisco represented the landlord, SEB Immobilien-Investment Group GMBH.
