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San Francisco’s One Sansome Tower Being Repositioned by Barker Pacific Group

5/23/22

Citigroup Center at One Sansome, a 42-story tower in San Francisco’s Financial District, is being transformed into a new entertainment and hospitality hub for the post-pandemic resurgence by the property owner, Barker Pacific Group (BPG).

Since BPG took ownership of One Sansome in 2010, it has spent more than $100 mil on renovations and added more than 10k sf of repurposed, rentable space. And now an ambitious, multi-faceted hospitality concept promises to create a new hive of activity in one of downtown’s most cherished landmarks, the historic, Albert Pissis-designed 8k sf ground floor conservatory of One Sansome.

Newly formed PLEASE FIDI LLC has signed a lease with BPG to transform the expansive building lobby and light-filled atrium into a new gathering place for the neighborhood. Plans call for a stylish private event facility, an eye-popping neighborhood bar and an upscale restaurant arranged across multiple ground-floor spaces.

“One Sansome is central to the downtown San Francisco’s FiDi and South of Market business districts offering a perfect location to host a wide range of business and social functions for employees, clients, conference, and convention guest in an iconic light filled space with easy transit access,” said Michael Barker, CEO and managing director of BPG, which is also the property manager of One Sansome. “We’ve designed the lobby and conservatory spaces to provide versatility and function to meet a myriad of event needs.”

The deal between PLEASE FIDI and Barker Pacific seeks a tight integration between the building’s hospitality component and tenant amenities. In addition to operating the bar, restaurant, and event facility, PLEASE will offer an exclusive catering program to the tenants of One Sansome and within the building’s newly built conference rooms, private dining rooms, tenant lounges, and the conservatory itself. The arrangement positions PLEASE to operate as a veritable “hospitality concierge” to One Sansome’s strong tenant roster.

The multi-million-dollar project will be executed by PLEASE FIDI founder and operator Phil Spiegel, a third-generation native San Franciscan and veteran player in the upper echelon of San Francisco’s high-stakes hospitality industry.

Although the event venue represents a major splash on the FiDi meeting and celebration scene, the centerpiece of the project will be a show-stopping bar and restaurant, painstakingly tailored to the unique taste, history, and sophistication of the San Francisco Financial District. With bespoke interiors imagined and executed by Jeff Schlarb — one of the city’s most coveted designers — Spiegel envisions a space evocative of an exclusive private club, without the membership. Boasting almost 16k sf of usable event space that can accommodate up to 2,000 guests, Spiegel foresees a robust relationship with Moscone Center, just a half-mile away.

BPG took what was once a typical, high-rise office building and transitioned it into a diversified multi-tenant, multi-industry investment boasting 650k sf of leasable Class A office space. Five years ago, it reached 100% occupancy.

Then came the pandemic. San Francisco’s Financial District became a virtual ghost town. One Sansome felt it, too. Last year, Citigroup, the anchor tenant in the building, occupying 122k sf across seven floors, announced it was vacating five floors. Occupancy fell to 83%.

Since then, leasing has picked up with Newmark Group taking 32k sf this past September, including the entire 41st floor, two penthouses, and half of the 40th floor. The newest tenant to lease at One Sansome is Pachulski, Stang, Ziehl & Jones, a Los Angeles-based law firm, which will move into 6.6k sf of the 34th floor this summer. The firm is relocating from the Embarcadero Center.

Other leases added in the first quarter of 2022, include:

• Egon Zehnder (10.2k sf)
• HIG Capital (17.6k sf)
• Community Counseling Services (2.7k sf new lease in 2024)
• HIG Capital (8k sf new lease in 2024)
• Kaplan Kirsch & Rockwell (3.3k sf)
• Skikos Crawford Skikos & Joseph (6.3k sf)
• Ampersand (2.3k sf)




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