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TMG Partners, CalSmart To Rehab SOMA Property

SAN FRANCISCO-The two-acre parcel holds 450,000 sf of office space in three 1960s-era buildings. The plan is to achieve a LEED Silver rating from the US Green Building Council.

By Brian K. Miller | Updated on August 23, 2007

SAN FRANCISCO-CalSmart is partnering with TMG Partners to rehab a 430,000-sf (net rentable) three-building property in San Francisco’s South Financial District. CalSmart, an investment partnership of Rreef and the California Public Employees Retirement System, acquired the vacant former SBC property at Third and Folsom streets in February for $83.8 million.

CalSmart and TMG intend to completely rehabilitate the 1960′s-era buildings including a new building skin, seismic upgrade, all new building systems and a public plaza. The property will be developed to achieve no less than a LEED Silver rating from the US Green Building Council. Skidmore Owings and Merrill is the design architect for the undertaking. Plant Construction is the general contractor and Tipping Mar is the structural engineer.

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