Can SoMa Get Any Hotter?
This was groundbreaking yesterday at 350 Mission, the once spec building whose 440k SF are already all thankfully leased to SalesForce, whose COO George Hu, third from right, joined developer John Kilroy and Mayor Lee, on either side of him, and others from Kilroy at the ceremony. Between the construction workers and tech employee who follow, these may be the last coats and ties ever seen at the site.
Here's work going on a couple blocks away at 535 Mission, a site Boston Properties acquired from Beacon Capital for $71M.
If you don't want to do ground-up, here's 680 Folsom, a 48-year old,469k SF former AT&T building also acquired by Boston Properties, which as you can see is in the middle of redevelopment in this week's perfect weather.
Tishman Speyer's doing two spec buildings in tech-frenzied SoMa. This is the 290k SF Foundry III, which describes itself as creative, collaborative space ideal for "high-tech media companies"; high-tech Bisnow Media duly takes note, although at this time we may not need an entire 35k SF floor plate.
Also t his morning, we snapped 220 Second, where Tishman and JP Morgan are developing a parking lot into 450k SF of office.
Or you can buy this old building at 181 Fremont--as developer Jay Paul did for $75M-- and rebuild.
What makes it so valuable? Perhaps being located next to the site of the Boston Properties/Hines Transbay Tower, which at 1,070 feet high will be the tallest building on the West Coast.
Or across from Millennium Tower, where your neighbors include Joe Montana and which just sold the last of its 419condos this week ever since it started sluggishly in 2009. If you're old enough to remember those times. (Last, last call for the Bisnow SoMa Summit tomorrow at the Fairmont Nob Hill.)
Send story ideas to julie@bisnow.com.
