SAN FRANCISCO—Equity Residential just signed four new retail leases at three sustainable apartment communities in the Design District, 855 Brannan, Potrero 1010 and One Henry Adams. This brings the total leased or opened to 10 within the last 10 months, totaling 20,855 square feet, says Drew Sullins, vice president of development, Equity Residential.
“855 Brannan is the newest project and is two-thirds open. The additional one-third will be open in first quarter 2018,” Sullins tells GlobeSt.com. “It is unique because it takes up half of a city block with pedestrian connections, a grove of redwood trees and ground-floor residential. The neighborhood has exploded with people, and there is a cool mix of new and old.”
The new leases at 855 Brannan include an artisanal taco bar, El Pipila, the latest entrepreneurial restaurant to come from the Mission's La Cocina food incubator. A second highly anticipated new food purveyor is Christina Siu's lease to introduce SOMA Slice, a wood-fired artisanal pizza outlet. Siu is the owner of the already popular Taqueria Dos Amigos and is the sister of Maxine Siu, the owner of Potrero's famed restaurant, Plow. Rounding out the deals is Peet's Coffee & Tea, a Bay Area institution that is scheduled to open in second quarter 2018 at the corner of 8th and Brannan.
The fourth transaction at Potrero 1010 was a lease with Truly Mediterranean, home to the Mission's favorite falafel and shawarma. Truly Mediterranean will be joining local favorite Boba Guys, which opened earlier this year. Potrero 1010 also welcomed California College of the Art's new flex space for gallery exhibitions, screenings and events. The project is two blocks from the new Warriors stadium.
“While we always strive to create apartment communities that are complementary to the distinct sensibilities of each neighborhood, having three properties in the Design District provided a rare opportunity to do so much more,” Sullins says. “We wanted to ensure that the area would become one of those up-and-coming neighborhoods where we all would love to live.”
One Henry Adams' retail space is completely leased with four concepts that were announced or opened earlier this year. The Grove, which has cafés in Pacific Heights, Hayes Valley and SOMA, opened its latest with indoor and outdoor dining and a fireplace with seating for 100, private event space and the first Grove-To-Go takeout window.
“Equity Residential has truly done a spectacular job curating and bringing city favorites, and new local concepts to the Design District. It's exciting to see the neighborhood emerging into a community where people now live and enjoy their daily lives–and by all accounts, many work locally too,” says retail specialist Mike Semmelmeyer of Main Street Property Services. “Equity Residential really worked hard to curate acclaimed local retailers and restaurateurs in this neighborhood, which is harder to accomplish from a broker perspective. Signing a lot of chain retailers would have been easier, but that's not the neighborhood vibe that Equity Residential has been thoughtfully cultivating. It's locals for locals and visitors of course.”
Indeed, Equity Residential is targeting tenants with amenities that add to the community, Sullins tells GlobeSt.com. Those would include food service, service retail, banks and fitness centers.
With a majority of the new retailers scheduled for a 2018 opening, timing appears to be optimal for the new employees of Dropbox and Airbnb, both of which signed two of the largest office lease deals in 2017. Thousands of workers will be moving into the neighborhood beginning in early 2018.
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