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May 21, 2018
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Work Started on First Tower of Oceanwide Holding’s 2.4 msf Mixed-Use Project in San Francisco’s Transbay Terminal Area


Work is underway on the First Street Tower at Oceanwide Center, a 2.4 msf, mixed-use development located at the corner of Mission and First Streets in San Francisco, less than one block from the Transbay Terminal. The project is a development of China-based Oceanwide Holdings, who acquired the site in 2015 for around $300 mil.

Oceanwide Center will consist of over 1 msf of office space, a 171-room Waldorf Astoria hotel, and 265 luxury residences within two towers. The project is scheduled for completion in 2021.

The signature First Street Tower, designed by world renowned architects Foster + Partners and Heller Manus Architects, will be the second tallest building in San Francisco at 910 feet after completion, and will be home to 109 luxury residences and 1.1 msf of office space.

The office floors are large and highly efficient. The innovative side-core design yields expansive floorplates that range in size from 32k sf – 26k sf offering flexible, open plans that cater to modern tenant demand. The foundation includes drilled shafts over 300 feet deep into Franciscan bedrock.

At the base of the building is a spectacular 26k sf “Urban Room” with 68-foot-tall ceilings. In addition to providing smart retail space, the Urban Room will host farmers’ markets, concerts, and other events, connecting the neighborhood and community. It boasts a water feature that converts to a stage and a second floor viewing platform.

Leasing of the 1.1 msf of office space at First Street Tower has been awarded to a Cushman & Wakefield team that includes JD Lumpkin, Mark Anderson, Todd Beatty, Mike Moran, Sandra Boyle, Stephen Llevano and Xinyi McKinny.

According to Lumpkin, the building is targeting LEED Platinum while the structure’s orthogonal design not only provides the best in seismic stability, it uses 30% less material and is 30% lighter than typical office buildings. The HVAC and elevator systems are state-of-the-art.

In addition to the two new towers, the Oceanwide Center project will incorporate two historic buildings at 78 and 88 First Street, both of which will offer office and retail space. The building’s neighborhood location, between Market Street and the Transbay Terminal, delivers exceptional access to every mode of transportation available. The property is also within walking distance of Moscone Convention Center, The Ferry Building, Union Square and Westfield Centre, as well as AT&T Park.

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