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Old February 15th, 2013, 04:42 PM   #1
desertpunk
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SAN FRANCISCO | 535 Mission St. | 115m | 378ft | 27 fl | Com



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535 Mission St. is an office tower approved in 2005 and which is slated to be built in a new tower cluster forming around the Transbay Transportation Terminal (currently under construction). The tower was placed on hold in 2008 amid the recession. The site has been cleared and was recently sold to Boston Properties which intends to begin building this month.


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Boston Properties Plans to Start San Francisco Office Tower Without Tenant

Quote:
Posted on February 7, 2013 by publisher in BREAKING news, Commercial, Finance

Boston-based office landlord Boston Properties Inc. intends to break ground in mid-February on an estimated $215 million office tower in the South of Market district of San Francisco with or without a signed lease.
...

Boston paid $71 million in cash to buy the development site at 535 Mission St., which was owned by Boston-based Beacon Capital Partners. Beacon declined to comment for this story.

Beacon owned the site for its private real estate fund, Beacon Capital Strategic Partners IV. The fund manager raised just over $2 billion in equity for the commingled fund, ending in 2006, according to its Web site. One of its largest investors with a $350 million commitment was the California State Teachers’ Retirement System.

Boston Properties plans to finish construction on 535 Mission by fall 2014. The 27-story property will total 307,000 square feet and is expected to achieve LEED Gold designation. There will be a retail component, but the size and type have not been determined.
...

Boston Properties, which owns the city’s 3.3 million-square-foot Embarcadero Center, has undertaken a campaign to increase its exposure to the San Francisco office market, its second smallest representing less than 10 percent of net operating income last year. In October, the company entered a 50-50 joint venture with an affiliate of the Hines company to develop the more than $1 billion, 61-story, 1.4-million square-foot Transbay Tower; 535 Mission would be across the street.

[...]
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Old February 18th, 2013, 08:54 PM   #2
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^the rendering pic in the OP is dead, here it is again:



Can't wait for this one to go up finally! The design looks really good, but I wish it was taller. That area's zoned for 550 feet/168 meters, so it's too bad the tower is only 380 feet.
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Old February 18th, 2013, 09:51 PM   #3
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I have always like this design, but it has come under some criticism because while construction was suspended the area was rezoned which would now allow it to be over 100 ft taller than the current design. The building is very unlikely to be redesigned however because the new owners (Boston Properties) want to get it built in order to catch the current wave of office demand and because much of the building materials, including the steel, were sold along with the lot so a redesign would involve a huge expense.

The lot is actually rather small. It was completely excavated and the pilings were placed as well as some of the perimeter foundation wall. Then construction was suspended . . . and everything was backfilled with gravel. I assume that was done to preserve the site and that gravel is relatively easy to remove so that construction can resume.
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Old February 18th, 2013, 09:53 PM   #4
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nice filler.
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Old February 19th, 2013, 04:50 AM   #5
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I was just thinking exactly the same. And I agree this is a design for a taller tower.
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Old April 22nd, 2013, 08:56 PM   #6
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Crane up, work proceeding:


http://forum.skyscraperpage.com/show...118924&page=17
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Old May 1st, 2013, 02:08 AM   #7
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The gravel they filled the hole with when the project was put on hold in 2008 is gone and the foundation work is moving forward:


Taken by me today.
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Old May 1st, 2013, 08:57 PM   #8
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nice, another one under construction (or soon).
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Old May 4th, 2013, 04:26 AM   #9
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Boston Properties Builds San Francisco, Exits Downtown San Jose


535 Mission St.

Quote:
Posted on May 2, 2013 by publisher in BREAKING news, Commercial, Finance

By Sharon Simonson

Even as office landlord Boston Properties aggressively pursues San Francisco office construction, including speculative development, and beefs up its ownership in Mountain View, it is shedding assets in downtown San Jose, saying the market after 10 years has not lived up to expectations.

Executives for the real estate investment trust said May 1 that they are exploring ways to speed development of the 1.4 million square-foot Transbay Transit Tower in San Francisco by nearly a year or more, while also examining whether to take on a capital partner.

At the same time, the Boston-based real estate investment trust has started speculative development on a second San Francisco office tower at 535 Mission St. with 307,000 square feet, also adjacent to the city’s new Transbay Transit Center.

The company is rushing to take advantage of the persistent demand from tech tenants to be in the city. “Uber, Microsoft, Google, Yahoo!, WeWorks, Square and AppDynamics are all looking for large blocks of space in the CBD of San Francisco,” said President Douglas T. Linde.

The company acquired the Mission Street site in February and expects to deliver the $215 million project by mid-2014 with occupancy by the end of the year.
The company prefers leases of two floors or more. “We expect a broad range of smaller tech tenants and legal users,” Linde said. They anticipate a 7 percent return.

Original plans called for construction on the Transbay Tower, slated to be the tallest building on the West Coast, to start as early as this summer and to be complete by 2016, just before the opening of the adjacent transit center.

Under questioning from an analyst about how the company intends to proceed with the project, including attitudes about building speculatively, Linde said the company has found a way to cut 10 months to 14 months from the timeline while creating a natural stopping point before starting vertical development when it can reassess the market.

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Old May 5th, 2013, 02:57 AM   #10
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Quote:
Originally Posted by desertpunk View Post
“Uber, Microsoft, Google, Yahoo!, WeWorks, Square and AppDynamics are all looking for large blocks of space in the CBD of San Francisco,” said President Douglas T. Linde.
Google is rumored to be interested in Foundry Square 3, probably the whole building if they decide on it.

Square, of course, just bought the old BofA Data Center which they will need to extensively renovate:


http://www.businessinsider.com/squar...market-2012-10
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Old June 1st, 2013, 10:14 PM   #11
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Renderings Revealed for 535 Mission in SoMa



Quote:
Way back in 2008, 535 Mission won our Best Building (That Didn't Actually Get Built) award. Shoot forward five years and the building boom is back in full swing, so 535 Mission has crawled out of the development black hole of the late 2000s. The HOK-designed, 27-story office building will reach a height of 378 feet. Construction began back in 2008 before being suspended due to the poor economy, giving this tower a head start on its now opening date of late 2014. The site was previously abandoned by Beacon Capital Partners due to the economy's downturn, so Boston Properties bought it when the latest tsunami of cash hit the Bay Area's building scene. When completed it will be adjacent to the Transbay Transit Center via a pedestrian plaza along Shaw Alley, and a double-height entry will greet visitors. The building is slated for LEED Gold certification.













Construction progress:



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Old July 12th, 2013, 12:35 PM   #12
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535 Mission site June 23:

image hosted on flickr

Foundry Square Building 3 finally going up... #studios #architecture #sanfrancisco #sunmicrosystems #SOMA #financial #first #howard #design by sokokyu, on Flickr
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Old August 27th, 2013, 11:12 PM   #13
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7 floors built, 20 more to go:


pic by simm3_redux on SSP: http://forum.skyscraperpage.com/show...118924&page=19


pic by viewguysf on flickr/SSP: http://forum.skyscraperpage.com/show...118924&page=19

Seeing as it's a steel-frame building, and the steel was already bought and delivered years ago, this one is rising relatively fast.

Last edited by desertpunk; November 14th, 2013 at 02:03 AM.
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Old September 7th, 2013, 12:08 PM   #14
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Late August:

image hosted on flickr

IMG_1162 by davum16, on Flickr
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Old October 12th, 2013, 03:38 AM   #15
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image hosted on flickr

535 Mission by urbanists, on Flickr
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Old November 7th, 2013, 08:59 PM   #16
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535 Mission Rising:











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Old November 14th, 2013, 01:58 AM   #17
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Public Art Unveiled for Under-Construction 535 Mission Tower







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Old November 19th, 2013, 10:54 PM   #18
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535 Mission deck work above Transbay Terminal construction

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Caltrain Extension to Transbay Center Construction (Central Subway) - San Francisco by BlueVoter - thanks for 400k views, on Flickr
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Old November 19th, 2013, 10:59 PM   #19
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At the 24th floor: big crane closeup

image hosted on flickr

Full Crane - Highrise Construction - SF by BlueVoter - thanks for 400k views, on Flickr

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Crane and Cab - Highrise Construction - San Francisco by BlueVoter - thanks for 400k views, on Flickr
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Old November 23rd, 2013, 04:52 AM   #20
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Transbay Transit Center by urbanists, on Flickr
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