Chinese Money Pushes Lincoln Property Office Tower Forward
The long-awaited 350 Bush is set to debut in 2017, and when it does, it will be the first new office building built north of Market in almost two decades—and possibly the last in the crowded Financial District. Developer Lincoln Property Co weathered the economic downturn after acquiring the site in 2007. Last year it got the capital needed to push the project after Chinese company Gemdale Group picked it for its first investment, reports the San Francisco Business Times. Hathaway Dinwiddie started construction in December, and workers are now excavating the project’s underground parking. The 372k SF building doesn’t have any signed leases yet, but the developer is confident it will attract tech; Microsoft is right next door. Asking rents are more than $60/SF. [SFBT]
