http://www.socketsite.com/535%20Mission%20Rendering.jpg

Source: http://www.socketsite.com

Sale of 535 Mission St. could top $70M (http://www.bizjournals.com/sanfrancisco/morning_call/2012/03/sale-of-535-mission-st-could-top-70m.html)

In 535 Mission St., Beacon Capital Partners is selling more than a piece of dirt.

Last week, the Business Times reported that the development and investment company was coming to market with a fenced-in parcel next to Tishman Speyer’s 555 Mission St., a site that is entitled for 293,000 square feet.
The story stated that the site could sell for about $43 million, a number that was based on other downtown land deals as well as market speculation.

http://www.socketsite.com/535%20Mission%20Site.jpg

Beacon to seek buyer for Mission Street site (http://www.bizjournals.com/sanfrancisco/blog/real-estate/2012/03/beacon-to-seek-buyer-for-mission.html?ana=e_bay_real&s=newsletter&ed=2012-03-08)

Beacon Capital Partners is coming to market with 535 Mission St., a development site entitled for a 27-story tower in the heart of San Francisco's south financial district.

The listing, being brought to market by Jones Lang LaSalle , could fetch about $70 million, based on recent land deals as well as the fact that Beacon is also selling the curtain wall glass and steel for the building.

The building, designed by HOK, has both advantages and disadvantages when compared with the other entitled, ready-to-go office development sites around town.

In addition to its prime location next to Tishman Speyer’s 555 Mission St. and the Salt House restaurant, the biggest advantage the developer of 535 Mission St. will have is speed. In October of 2008 Beacon Capital, which bought the property for $30 million in 2006, had already dug the foundation and bought the steel for 535 Mission when financial crisis started and the world came to a halt.



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approved office sites that could go vertical this year include 350 Mission St., 350 Bush St. and 535 Mission St.
http://www.bizjournals.com/sanfrancisco/print-edition/2012/04/13/tishman-set-to-start-soma-construction.html?page=all

. . . 535 Mission St.
(GLL Development & Management President David) Wall said his group would be happy to act as fee developer should the property be bought by an investor not interested in doing the development themselves.
“I am eager to see it built,” said Wall. “Whether I do it or somebody else takes it on doesn’t matter. If I walk down Mission Street in two or three years, it will be a proud moment for me.”
http://www.bizjournals.com/sanfrancisco/print-edition/2012/05/11/office-sales-soaring-toward-44-billion.html?page=all

535 Mission Site Sold, 27-Story Tower Ready For A Quick Restart

Boston Properties has completed its acquisition of the 535 Mission Street development site for $71.0 million and expects to recommence construction on the approved HOK-designed 27-story office tower within weeks, hoping to finish the project by the fall of 2014 . . . .


http://www.socketsite.com/archives/2013/02/535_mission_site_sold_modern_27story_tower_ready_to_ris.html

:banana::dance::cheers1:

Bulk rendering:

http://www.socketsite.com/535%20mission%20Street%20Massing.jpg
http://www.socketsite.com/archives/2013/02/is_535_mission_selling_itself_and_the_city_short.html

Yeah, the new zoning would allow it to be higher, but the new owner wants to put it up fast and I don't think a redesign adding 100 ft (and then getting approvals to buildit) could be fast. Plus much of the materials have been bought and were sold with the lot--presumably they were part of the purchase price but probably couldn't be used for a redesigned building.

http://www.socketsite.com/Transit%20Center%20District%20Plan%20Proposed%20Heights%202012-thumb.jpg
http://www.socketsite.com/archives/2013/02/is_535_mission_selling_itself_and_the_city_short.html

^^Love how the existing buildings along Mission are starting to seem short, however.

Yeah, I don't think we can complain too much about this being short. It's a great looking building, and it's awesome to see a new skyscraper rising from the downtown core. Plus, we need some shorter buildings to balance out the massive ones to come :okay: Can't wait for construction to start.

HaHa!

Feb 23, 2013:

http://i.imgur.com/XbDmjuZl.jpg?1
http://forum.skyscraperpage.com/showthread.php?t=118924&page=16

Crane's up, serious work appears to be progressing:

http://i.imgur.com/LKptAALl.jpg?1

http://i.imgur.com/3HjVuBZl.jpg?1
Images: http://forum.skyscraperpage.com/showthread.php?t=118924&page=17

Gravel's all gone. Foundation work proceeding:

http://i185.photobucket.com/albums/x128/BSTJr/IMG_0798_zpsc96e8860.jpg
Taken today by me.