San Francisco Business Times
By J.K. Dineen
October 30th, 2009

San Francisco’s Del Monte Foods will relocate and expand its corporate headquarters to One Maritime Plaza, a 153,000-square-foot deal that is the city’s largest lease of 2009.

The new Del Monte headquarters, 27 percent larger than the company’s current home, will consolidate 400 workers from two locations: the Landmark at One Market, where Del Monte has 93,000 square feet, and 50 California St., where it leases 19,000 square feet.

The new headquarters will centralize the organization and will “further support execution of the company’s accelerated growth strategy,” the company said in a statement to the San Francisco Business Times. Del Monte has been based in San Francisco for more than 100 years. [More...]

Heidrick & Struggles Restructures Lease at One California Street

October 28th, 2009   Filed Under Financial District, Tenant Activity  

The CoStar Group
By Laurie Forbes
October 28th, 2009

Executive search and consulting firm Heidrick & Struggles restructured and renewed nearly 31,000 square feet in office deals in Atlanta, Houston and San Francisco.

In its renewal of 12,395 square feet at One California St. in San Francisco, Heidrick was also able to shed extra space, score a significantly lower rental rate and get tenant improvement dollars from the landlord for the renovation of its existing office. State Teachers Retirement System of Ohio and Shorenstein Realty Services own the 32-story, 484,129-square-foot, Energy Star-rated building in the financial district. It is 97 percent leased. Tom McDonnell, vice president, leasing at Shorenstein represented the ownership group. [More...]

Tavern on the Metreon Never a Done Deal

October 15th, 2009   Filed Under Development Updates, Yerba Buena  

Globe Street
By Brian K. Miller
October 14th, 2009

SAN FRANCISCO-Tavern on the Green, the heavily-touristed restaurant in NYC’s Central Park generated a lot of news stories last year when its operators announced plans to launch a West Coast iteration overlooking this city’s urban oasis, Yerba Buena Gardens. More than $10 million reportedly would be spent on the build-out of a 43,000-square-foot space atop the Metreon, headlining an effort by Forest City Enterprises and Westfield to remodel, re-tenant and thereby revitalize the under-performing 360,000-square-foot development for success in 2010.

Forest City called it an “an extraordinary addition” in the May 2008 announcement. Westfield called it “an ideal complement” to the cultural, hospitality and convention businesses in the area. “We have been anxiously waiting for the perfect opportunity…and we are pleased to say that we have finally found it…, said Tavern on the Green CEO Jennifer LeRoy in the same announcement. “The City of San Francisco, with its vibrancy, diversity and passionate dining culture, combined with the perfect setting on a park in the heart of the city is simply too good to be true.”

Apparently it was. A source with Tavern on the Green tells GlobeSt.com it never made a firm commitment to open at the Metreon and that such a commitment is now on indefinite hold [More...]

Transbay funds delay may have $100M price tag

October 9th, 2009   Filed Under Development Updates, Financial District, South of Market  

San Francisco Examiner
By Will Reisman
October 9th, 2009

An unexpected delay in funding for the new Transbay Terminal could set construction plans back months and cost the project another $100 million.

The transformation of the existing Transbay Terminal, a 70-year-old building on Mission and First streets, into a modern regional transit hub is expected to provide 45,000 jobs.

Earlier this year, the Transbay Joint Powers Authority — the agency in charge of the ambitious renovation project — applied for $400 million in federal stimulus funds, a revenue stream it originally expected to be released this month. [More...]

Nektar to move HQ to Mission Bay

October 2nd, 2009   Filed Under Development Updates, Mission Bay, South of Market, Tenant Activity  

San Francisco Business Times
By Ron Leuty
October 2nd, 2009

Nektar Therapeutics Inc.will shift its headquarters and 150 employees to San Francisco after taking 102,283 square feet of office space in Mission Bay originally intended for Pfizer, Inc.

The move from San Carlos is laced with a heavy dose of irony: Two years ago, Pfizer pulled the plug on a drug collaboration with Nektar, and nearly killed the company in the process.

It’s also laden with sizeable savings. Nektar will pay no rent in the first four years of the 10-year sublease deal and will snag a $15 million tenant improvement allowance granted to Pfizer by landlord Alexandria Real Estate Equities Inc. [More...]

Brown & Toland Renews 53,148 SF

October 2nd, 2009   Filed Under Mission Bay, South of Market, Tenant Activity  

The CoStar Group
By Ryan Munneke
September 25th, 2009

Brown & Toland Physicians renewed 53,148 square feet for seven years at 160 King St. in San Francisco.

The tenant is an independent practice association of more than 1,500 physicians serving 200,000 people. It is on the entire seventh floor and part of the sixth floor at 160 King. [More...]