LEED Leads to Leasing at 855 Brannan
Even there were no mandated LEED requirements, Equity Residential saw it as an opportunity to lead the market and 855 Brannan is now the largest LEED Platinum-certified multifamily development in the city.
SAN FRANCISCO—Not only is Equity Residential’s 855 Brannan now the largest LEED Platinum-certified multifamily development in the city but it is now 95% leased. Equity has signed one new retail lease and one expansion lease.
“Securing LEED Platinum is an achievement that very few properties can accomplish,” John Hyjer, first vice president, investments, Equity Residential, tells GlobeSt.com. “And as it pertains to 855 Brannan, it is important to note that there were no mandated LEED requirements, but we saw this as an opportunity to lead the market on a monumental project in San Francisco.”
In addition, Hyjer says that LEED certification is getting more attention from would-be residents.
“Our leasing teams find that residents respond quite positively to being a part of the sustainable community at 855 Brannan,” Hyjer tells GlobeSt.com. “In fact, the LEED certification has been one of the top three amenities at the property among residents. It gives the property a feel-good amenity that other communities cannot match. And, there is a certain group of residents that look for and inquire about LEED construction and certification. And that group is growing. When residents are comparing projects, it is definitely a difference maker for some.”
The expansion lease is for Studio Montessori and the two new leases are with RockSalt Pilates and the District Barbers. Studio Montessori, a French/English bilingual preschool, is moving into a nearly 2,500-square-foot space at 855 Brannan. The District Barbers will open its second location at 855 Brannan St. RockSalt Pilates will be opening its first location in San Francisco within 1,130 square feet at Potrero 1010. RockSalt Pilates and the District Barbers are scheduled to open in the fourth quarter 2018 and Studio Montessori’s expansion is scheduled for completion in the first quarter of 2019.
“When it comes to curating retail at our communities, our motto is, ‘Equity Residential builds neighborhoods not just apartment communities.’ And it really is true,” Wana Sims, Equity Residential’s director of retail, California, tells GlobeSt.com. “Before retail leasing begins, we walk the neighborhood during the planning and construction process. We talk with locals to learn what’s on their wish lists. We investigate what’s missing. And when residents begin moving in, we learn what they’d like to see in terms of services and eateries.”
Armed with this information, Equity Residential sources a mix of local businesses that fulfills the neighborhood’s wants and needs. This approach has the ancillary benefit of creating something unique to each neighborhood, Sims tells GlobeSt.com.
Mike Pepper of Hinge Brokers represented the tenants. Mike Semmelmeyer of Main Street Property Services represented Equity Residential in all three transactions.
Equity Residential owns or has investments in 304 properties consisting of 78,639 apartment units, primarily located in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California.