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Repositioning in Works for 1M-SF Furniture Mart

SAN FRANCISCO-The once-exclusive venue offering wholesale home furnishings to design professionals and retailers is becoming a mix of restaurants, shops and office.

By Brian K. Miller | Updated on January 14, 2008

SAN FRANCISCO-The 1.2-million-sf San Francisco Mart, a once-exclusive venue for design professionals and retailers to shop for wholesale home furnishings, is being remade into a mixed-use development with restaurants, retail shops and office. The transformation of the Mid-Market neighborhood’s historic landmark is being performed by ADCO, as in Alvin Dworman, a bi-coastal developer who has owned the building for 40 years.

To be called Market Square, the reinvented venue at 1355 Market St. will have approximately one million sf of office and as much as 250,000 sf of retail. Currently, the development is mostly furniture showrooms, but also includes about 200,000 sf of office and about 50,000 sf of retail.

A source with ADCO tells GlobeSt.com that the company expects to start the physical work this spring and complete the work 18 months later. ADCO says it has already begun transitioning out showrooms and support related to the industry and is working with engineers to develop plans for permitting. The cost of the project is estimated at about $35 million, not including the tenant improvements, which at $50 per sf for the 800,000 sf of new office space would more double the cost.

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