New Telecom Development Going Up, Attracting Tenants in SOMA

SAN FRANCISCO-A 212,000-sf telecom building is going up south of Market, and a twin is in the works. According to Rosemary Jensen, president of Peregrine Properties, the project, which is currently under construction at 1828 Egbert Avenue, has already attracted a a major international carrier that has signed a lease for a substantial portion of the building. The name of the carrier was not immediately made available. The building is expected to be finished in phases between January and March of 2001.

The San Francisco based developer represented by Peregrine Properties is also planning to develop a second, similarly-sized building on an adjacent parcel of land. The second project has not yet been approved. As some of the only substantial build-to-suit space going up in the city right now, Peregrine and the privately held 1828 Egbert Avenue LLC hope that their space will lease at a premium.