SAN FRANCISCO—A 743,000-square-foot, class-A office tower near the Transbay Transit Center, Park Tower at Transbay, will begin next month. The project is a joint venture with developers, The John Buck Company and Golub Real Estate, while MetLife is an equity investor in the partnership.
Construction of the 43-floor, LEED Gold pre-certified office tower will begin next month, with completion scheduled for June 2018. Park Tower, located at Howard and Beale streets, will be a component of the Transbay Transit Center, a multi-billion-dollar redevelopment project with residential, commercial and transportation facilities. The groundbreaking ceremony was featured during ULI Fall Meeting week.
Mark Wilsmann, managing director for MetLife, tells GlobeSt.com: "We are a big believer in San Francisco with its driving force, technology, providing a competitive advantage. The finished building will appeal to technology users, venture capitalists, law firms, etc."
The design will go from large up to smaller floorplates, including 14 sky decks as well as a ground-level park and a stunning three-story lobby. The completion of the office complex is expected to coincide with the scheduled completion of the Transbay Transit Center. JLL brokered the deal and is handling leasing for the building which also features Bay and city views from more than 70% of the rentable floor space.
“The thriving micro-market of San Francisco's Transbay neighborhood is one of the nation's most desirable urban markets for commercial and multi-family real estate development,” said Michael Newman, president and CEO of Golub Real Estate. “We look forward to adding a signature tower to the skyline, defining this emerging mixed-use neighborhood with a distinctive design—and of course, proximity to the best public transportation in the country.”
The surrounding Transbay area is buzzing with activity, as previously reported.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
