SAN FRANCISCO-According to industry rumors and an unnamed source, the City’s effort to entice Twitter Inc. to Market Square, formerly known as the San Francisco Mart, will include Shorenstein Properties’ purchase of the complex from ADCO Group. Shorenstein tells GlobeSt.com that it cannot officially comment at this time, however, an unidentified source not involved in the deal, tells GlobeSt.com that the company “is in negations to buy it, but it has not closed.” The source points out that closing is expected to “within two weeks.”

ADCO Group did not respond to GlobeSt.com queries by deadline and Jones Lang LaSalle’s Christopher Roeder, a managing director in the San Francisco office, who handles leasing at the property, tells GlobeSt.com that he cannot comment at this time.

ADCO acquired the building, located at 1355 Market St., in 1968 and preserved and repositioned it as a multi-use development ready to serve the up and coming Civic Center area in 2008. At more than one million square feet, ADCO determined, at the time, that transitioning the property into mixed-use would better serve the neighborhood. According to Roseann Carini, general manager of San Francisco Mart at the time, they wanted to “create a campus that will become a centerpiece of the developing residential community around us. Our vision for Market Square is a destination where people not only work in a first-class office environment, but can grab a bite to eat, relax in the public space, and run their errands at the shops all under one roof.”