SAN FRANCISCO-Jones Lang LaSalle Inc. has been awarded the exclusive leasing assignment for One Front Street, a 38-story, 639,000-square-foot class A office building in downtown San Francisco’s financial district. Christopher Roeder, Wes Powell and Ted Davies will handle the leasing for the property owner, Atlanta-based institutional investor Invesco.
Powell tells GlobeSt.com that although the current occupancy is about 77%, JLL is dealing with leases on about four-and-a-half floors already—equaled to about 70,000 square feet—which he says will bring the occupancy up quite a bit. As for leasing rates, Powell tells GlobeSt.com that the start rate is $32 per foot, up to $58 per foot.
“This is a signature asset in the hands of solid core ownership,” Powell says. “The building offers prime amenities including extensive indoor parking and excellent views of the Bay and the City from the upper floors.” He adds that “It’s also in a great location—a location which will only get more attractive in the coming years as San Francisco brings more transit options into the downtown core.”
Powell points out that the building is located atop the northwestern entrance to BART’s Embarcadero station making the East Bay and Peninsula cities as well as San Francisco International Airport easily accessible for commuters and visitors. The property is also three blocks from the sites of both the temporary Transbay Transit Center and the five-story Transbay Transit Center at First and Mission, on which construction commences this month and which is due to be completed by 2017. The transit center will serve AC Transit, Muni, Greyhound, WestCAT Lynx, SamTrans and Golden Gate Transit buses and is the first phase in the development of a $4.185 billion intermodal transit center which will include the extension of Caltrain and, eventually, high speed rail into downtown San Francisco. Other features of the development include a 5.4 acre park, homes and retail shops.
Powell tells GlobeSt.com that the location of the building, and its curved glass windows attract high-end tenants, such as “high-end lawfirms and insurance companies” for example. One Front Street is also a short walk from the San Francisco waterfront and is surrounded by a wide range of restaurants and hotels. Current tenants in the building include Wells Fargo Bank, Covington & Burling, Skidmore Owings & Merrill, FTI, Jones Lang LaSalle and BNP/Bank of the West.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
