SAN FRANCISCO | Salesforce Tower | 1,070 FT (326 M) | 61 floors

[viewguysf]

Originally Posted by Roadcruiser1

It's seems kind of weird. In New York City you can put an 1,800 feet building on the ground and no one cares, but in San Francisco you would get people suing you. What's the big problem?

That doesn't seem to be true anymore, at least as far as 57th Street is concerned; you currently have a signifigant amount of controversy going on about shadows that could affect Central Park. Last year I also read that some New Yorkers are complaining about skyscrapers and shadows downtown too.

[supertallchaser]

its a city meant for its buildings if they do not like it oh well

[JWS]

edited: I'm a fool, this post was meant for the general development thread.

[Roadcruiser1]

Originally Posted by viewguysf

That doesn't seem to be true anymore, at least as far as 57th Street is concerned; you currently have a signifigant amount of controversy going on about shadows that could affect Central Park. Last year I also read that some New Yorkers are complaining about skyscrapers and shadows downtown too.

Guess that is why we ought to kick the Californians out. I am just kidding. ......

[Submariner]

Originally Posted by viewguysf

That doesn't seem to be true anymore, at least as far as 57th Street is concerned; you currently have a signifigant amount of controversy going on about shadows that could affect Central Park. Last year I also read that some New Yorkers are complaining about skyscrapers and shadows downtown too.

New Yorker here.

Regarding 57th street, there is a lot of noise coming from a small group of people. For the most part, people don't care about the shadow issue (which is overblown)

As for the possible 1800 foot tower at Hudson Yards, the site being discussed is located in the only un/underdeveloped area in all of Manhattan. The fact is, there are very few people living in the area. You're not going to see a huge opposition from a group of people who don't exist.

Anyways, the Transbay Tower looks great. Here is to more development (and maybe a few more supertalls!) in SF!

[Valyrian Steel]

Originally Posted by viewguysf

That doesn't seem to be true anymore, at least as far as 57th Street is concerned; you currently have a signifigant amount of controversy going on about shadows that could affect Central Park. Last year I also read that some New Yorkers are complaining about skyscrapers and shadows downtown too.

If I hated skyscrapers, Manhattan would probably be the last place I'd wanna live.

[viewguysf]

Originally Posted by eclipse

If I hated skyscrapers, Manhattan would probably be the last place I'd wanna live.

True! We have enough people hung up on the number of tall buildings here, and it's only going to get more lusciously dense--the Little Apple.

[Deepstar]

Originally Posted by wakamesalad

I still cant believe this is under construction, without any lawsuits or obstructions of any kind. How in the heck did that happen?

I didn't even know this one was under construction, that's awesome!

[simms3_redux]

The wooden and laminated barrier fence surrounds the entire property now, so the only place to see what's going on is on the East end where the entrance is, and of course the doors have to be open.

Not much visible yet, though all the machinery is hard at work and there is quite a bit of steel on-site and plenty of workers. Must be all subterranean work at this point.

[Guiltyspark]

Originally Posted by shakman

According to these eyes it does say 1.4 million. Expensive indeed. What percentage has been committed by future tenants?

It says Expansive.

[chris08876]

Boston Properties Transbay Tower HD
=======================

Video Link

[minesweeper]

No surprise here as Boston Properties is still undecided about going vertical once the foundation is set, but they sound bullish overall:

The subgrade work at Transbay is progressing and our marketing program is in full swing. We are in active discussions with a number of tenants and could deliver the building in late '16 or early '17 based on our current schedule. But we have not made a decision yet to move forward on the structure out of the ground.

This is Mort Zuckerman speaking. When we go and explore the possibility of starting a building like this, we have extended meetings with the brokerage community, which I was fortunate to attend. And I will tell you that -- and I'm not exaggerating, and all the ridiculous number of years that I've been in the real estate business, I never heard from the brokerage community a list and a detailed list of the kind of action that there is in the San Francisco market in terms of tenants who are not only new tenants coming into the market, but tenants that were in the market and are growing. And way overwhelming the amount of new space coming in. And since this building we believe will be the iconic building in San Francisco, we have found that the kind of interest that we are receiving to reflect that kind of activity. So we didn't start it just in a vacuum. We started it within the context of the most bullish description of the market based on specific information about tenants that were growing or tenants that were making new commitments or new tenants coming into the market.

With regards to the Transbay Tower, we are now working in the ground, pouring our footings, doing our foundation work and there is a consistency of conversations, both within Boston Properties and direct tenant negotiations, as well as Boston Properties brokers and other brokers asking for information on a pretty consistent basis. And I would say that the overall tone of the market in the first quarter of 2014 is probably slightly better than the tone of the market was in the fourth quarter of 2013. That doesn't mean that we feel like we're going to announce a major lease in the next 3 days, but like I said, we're feeling good about the overall market demand, as Mort just described. If you would see what the statistics look like in the first quarter, you're going to see a number of large users that have committed to expansion in San Francisco.

Source: Seeking Alpha

[Zapatan]

Originally Posted by eclipse

If I hated skyscrapers, Manhattan would probably be the last place I'd wanna live.

Seriously... I don't see the logic of these people, they should move to Kansas

[mt_climber13]

^^After reading that article you came to the conclusion that they are undecided? Because it sounds like the exact opposite.

[rocketman_95046]

Originally Posted by wakamesalad

^^After reading that article you came to the conclusion that they are undecided? Because it sounds like the exact opposite.

I agree, If you haven't signed a tower contractor yet, you would never say we are definitely going to go vertical after the foundation is complete. You would lose contract negotiating wiggle room.

Expect the story to change once they name the lead contractor.

[simms3_redux]

Sounds like nobody has pulled the trigger yet. However, there is likely nobody else that will build the tower. The amount of money they have in the land and the foundation is staggering by itself. This is an asset with unique complexities only known by BP/Hines and an asset that is already depreciating, and who knows if they'll see land prices like this again.

We still haven't heard any official announcements for 535 Mission or 222 Second or 181 Fremont, all much smaller towers that are much further along (even nearly complete). Also, 285 Folsom (Foundry III) is still half leased since CBSi pulled out. The only big announcements as of late have been in either class B buildings in SOMA or in mid-market, or new construction in SOMA (333 Brannan, possibly 345 Brannan soon).

Personally, I'm bullish. Lots of money, egoes, pride, and momentum in this project.

[rocketman_95046]

Originally Posted by simms3_redux

Sounds like nobody has pulled the trigger yet. However, there is likely nobody else that will build the tower. The amount of money they have in the land and the foundation is staggering by itself. This is an asset with unique complexities only known by BP/Hines and an asset that is already depreciating, and who knows if they'll see land prices like this again.

We still haven't heard any official announcements for 535 Mission or 222 Second or 181 Fremont, all much smaller towers that are much further along (even nearly complete). Also, 285 Folsom (Foundry III) is still half leased since CBSi pulled out. The only big announcements as of late have been in either class B buildings in SOMA or in mid-market, or new construction in SOMA (333 Brannan, possibly 345 Brannan soon).

Personally, I'm bullish. Lots of money, egoes, pride, and momentum in this project.

Simms, Trulia.com leased 535 mission.

http://www.bizjournals.com/sanfranci...html?full=true

[simms3_redux]

^^^That's speculation. I heard from the brokerage community that they were still in leases. Also, the article indicates it's for roughly 1/3 of the building (which is the smallest office building still UC), and so overall when you're talking about the SF of office space being built, it doesn't move the needle. I'm not concerned, though. Just countering everyone who is saying how all of this office space being built is mostly pre-leased when only the Salesforce building is pre-leased and we're beyond the 680 Folsom/140 New Montgomery reconstructions (and I'm not talking about SOMA where 333 Brannan is officially pre-leased and rumors float for 345, but those are also much smaller buildings).

[WonderlandPark]

Reading the above, no wonder I am still somewhat doubtful this is being built. There is a TON of new class A coming online and a pretty small proportion of that is spoken for. Too big and too late in this building cycle. That could change in a heartbeat, hope it happens, but not getting my hopes up.

[mt_climber13]

Originally Posted by WonderlandPark

Reading the above, no wonder I am still somewhat doubtful this is being built. There is a TON of new class A coming online and a pretty small proportion of that is spoken for. Too big and too late in this building cycle. That could change in a heartbeat, hope it happens, but not getting my hopes up.

Lol.