SAN FRANCISCO-Mitsui Fudosan America Inc. has formed a joint venture with San Francisco-based SKS Partners to develop a premier class A office building at 270 Brannan St. in San Francisco. The joint venture will pursue LEED Platinum status for a 202,000 gross square foot building located near Second Street in SOMA's historic South Beach district.
The joint venture plans to start construction in the second quarter of 2014 regardless of the preleasing status. 270 Brannan is anticipated to be available in the second quarter of 2015. Brannan Street serves as the main thoroughfare in the SOMA area, which is considered the center of San Francisco's technology industry and many of the Silicon Valley's leading technology companies.
“The irreplaceable location, SKS' superior experience delivering buildings for this tenant type for over twenty years, the significant depth of technology-driven tenant demand, and our desire to make long-term investments in 24x7 cities like San Francisco make this a compelling opportunity for us,” says Yukio Yoshida, president and CEO of MFA.
The building will feature a landscaped atrium with an architectural glass canopy and a living green wall. Each tenant space will have direct views into the atrium, where natural light will penetrate deep into the core of the building.
The upper floors and rooftop deck will offer panoramic views of the city skyline and the Bay Bridge beyond. The building is situated in an area that has attracted technology companies such as Google, eBay, Microsoft, and Splunk.
MFA has a long history of investments in San Francisco dating back to the development of 505 Montgomery Street in 1988 and the Clock Tower project, located on 2nd Street, in 1992. In 2007 MFA acquired 180 Montgomery St. a 303,000-square-foot office building in the North Financial District.
270 Brannan is the first of several investments that MFA is evaluating in the Bay Area. In addition to its commercial office development and acquisition activities, MFA is also actively seeking residential development opportunities in New York, Washington D.C., San Francisco, Seattle, Boston, and Los Angeles.
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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.
