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NORTHERN CALIFORNIA NEWS
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San Francisco’s Salesforce Tower Nearing Completion

11/14/17

By Allen Wolfsheimer

Salesforce Tower, the 61-story, 1.4 msf office skyscraper being developed adjacent to the new Transbay Transit Center in San Francisco by Hines and Boston Properties, is nearing completion. The $1.1 bil high-rise, located at 415 Mission St, is 1,070 feet in height, making it the tallest building on the West Coast.

The photo here, just taken November 11 from San Francisco’s Twin Peaks neighborhood, shows how the new tower dominates the skyline. It stands 217 feet taller than the city’s iconic Transamerica Pyramid. While some may note that the new Wilshire Grand high-rise in Los Angeles is technically taller at 1,100 feet, it includes a 166-foot spire on top. Salesforce Tower has no spire, so in terms of actual, usable space, Salesforce Tower is taller.

Photo: www.TheFotoFinisher.com
Photo: www.TheFotoFinisher.com

Set to open in early 2018, Salesforce Tower was designed by Pelli Clarke Pelli Architects. Originally known as the Transbay Tower, the high-rise was renamed after Salesforce.com inked a $560 mil deal in 2014 for roughly half the building in what was at the time the largest office lease in San Francisco history, both by square footage and by total value. The 15-1/2-year transaction included floors 3 through 30 as well as the top floor, floor 61.

Salesforce.com has since bumped up its lease by another 150k sf, giving them around 880k sf of the tower. As the anchor tenant, the firm will have a strong presence in the property’s lobby and retail spaces as well.

More recently, the developers also signed WeWork as a tenant at the project. The NY-based co-working giant will be opening its second HQ location after agreeing to take three floors, totaling 75k sf, at the building. Other signed tenants include Bain & Company, Accenture, and CBRE, bringing the landmark tower to currently 87% leased. The CBRE team of John Cecconi, Angus Scott and Andrea Reeder has the leasing assignment for the building.




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