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  #21  
Old Posted Mar 2, 2007, 7:13 AM
botoxic botoxic is offline
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Peebles Out

Just found this little tidbit in a San Francisco Business Times Story originally published on February 16th. It sounds like 340-350 may still get built, but not for a while...

Less than a year after acquiring 250 Brannan St. for $20 million as a luxury residential loft play, Florida real estate mogul Don Peebles is putting the property back on the market as offices and expects to attract offers as high as $35 million.

Peebles Corp. Senior Vice President Daniel Grimm said the firm decided to test the market after receiving a number of unsolicited offers for the property. At the same time, Peebles has been going forward with the entitlement process on the deluxe loft development, and is still applying for building permits in case none of the offers are high enough. Offers are due Feb. 23.

"As the numbers get into the low to mid 30s, it makes sense to sell," said Grimm. "Anything under $30 million and we're building."

The shifting future of the brick-and-timber former Gallo Salame plant reflects both the strengthening Web 2.0-fueled SoMa market, and the uncertainties of a weaker housing sector, according to broker Tony Crossley of Colliers International, who is handling the listing.

"I think (Peebles) will do very well," said Crossley. "Over the last 12 months a few things have changed. The sheen is off the residential condo market a little bit. ... But I think these things are less significant than the office market making a comeback."

If the 104,000-square-foot building is acquired for office space, it will have come full circle since it was leased by Internet advertising firm DoubleClick Inc. at the top of the dot-com bubble. DoubleClick leased the entire structure, but never occupied more than 30,000 square feet and had left by 2004. It had been vacant for two years when Peebles picked it up last March and proposed 54 high-end lofts.

Grimm said it has taken longer than expected to secure permits for the office-to-housing conversion and that "during that time the office market changed."

"Given the unsolicited interest as an office building, we need to understand what the market is prepared to pay," said Grimm.

While well-positioned to profit on 250 Brannan, Peebles -- a flamboyant entrepreneur sometimes called the Prince of South Beach -- has struggled to gain a toehold in the Bay Area. In November, Peebles narrowly lost a ballot measure which would have allowed him to build a mixed-use "downtown" on 87 acres in Pacifica. And early this year, Peebles dropped a plan to construct a 380-unit tower at 340-350 Fremont after he was unable to come to terms with seller A

Grimm said Peebles is still bullish on Bay Area housing and is looking at a number of potential deals.

In switching from office to residential and back to office, 250 Brannan would not be unique. Last summer, Beacon Capital Partners filed plans to build a 27-story office tower at 535 Mission St., a site that had been entitled entitled several times for both residential and office development.
     
     
  #22  
Old Posted Jul 21, 2007, 6:13 AM
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Additional renderings taken from (http://www.grubb-ellis.com/services/...spx?PropID=657) and posted by PBuchman:





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  #23  
Old Posted Jul 21, 2007, 3:45 PM
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Lovely renderings, but can anyone explain Heller Manus's fascination with green tinted glass? 340 Fremont, 10th and Market, and the Metropolitan towers all look like variations of the same basic design.

With the condo market cooling, I'm crossing my fingers that a luxury rental developer will acquire the rights to develop the building. Archstone-Smith, Related, Avalon, etc.
     
     
  #24  
Old Posted Jul 21, 2007, 4:59 PM
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Quote:
Originally Posted by FourOneFive View Post
Lovely renderings, but can anyone explain Heller Manus's fascination with green tinted glass? 340 Fremont, 10th and Market, and the Metropolitan towers all look like variations of the same basic design.

With the condo market cooling, I'm crossing my fingers that a luxury rental developer will acquire the rights to develop the building. Archstone-Smith, Related, Avalon, etc.
Well, it is very cyclical, so I'm sure that someone will purchase this very soon. It could very well go up as rentals initially and then get converted in a few years, as the condo market heats up again. With the housing and rental shortage and the prime location, I just cannot see this sitting vacant for too long.
     
     
  #25  
Old Posted May 31, 2009, 9:32 PM
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From 7/21/07:

Quote:
Originally Posted by roadwarrior View Post
Well, it is very cyclical, so I'm sure that someone will purchase this very soon. It could very well go up as rentals initially and then get converted in a few years, as the condo market heats up again. With the housing and rental shortage and the prime location, I just cannot see this sitting vacant for too long.
Depressingly, I think that we can all see it now.

Last edited by viewguysf; Sep 8, 2012 at 7:01 PM.
     
     
  #26  
Old Posted Oct 15, 2009, 11:23 PM
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Updates...

What is the plan for this site now?
     
     
  #27  
Old Posted Dec 14, 2010, 7:34 PM
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First post!
Quote:
The owners of 340 Fremont St., a piece of land entitled for a 400-foot condo tower, are going to the San Francisco Planning Commission this week for an extension that would preserve building permits for another 12 months.
Quote:
“Based on there being steady improvement in economic and market conditions, we believe there is a reasonable possibility that 340 Fremont would commence during the next year,” wrote Mersey.
http://www.bizjournals.com/sanfranci...ill-tower.html

Last edited by edwards; Dec 14, 2010 at 7:47 PM.
     
     
  #28  
Old Posted Dec 15, 2010, 1:43 AM
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That would be great to see this get built. The lonely One Rincon Hill tower needs some company.
     
     
  #29  
Old Posted Dec 15, 2010, 2:38 AM
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welcome edwards. thanks for sharing. lets hope they actually start something 'concrete' with this tower...
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  #30  
Old Posted Dec 15, 2010, 10:02 PM
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Cool, good news, thanks for posting.
     
     
  #31  
Old Posted Dec 15, 2010, 11:10 PM
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This is just about jumping through the requisite hoops to preserve existing development rights. Nothing is getting built right now.
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  #32  
Old Posted Jun 12, 2011, 9:58 AM
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Will anything ever get built on this site?
     
     
  #33  
Old Posted Dec 13, 2011, 12:43 AM
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Well, another year and another extension sought. Could this be the final time? For now, we'll have to settle for more renderings:





Source: SocketSite.
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  #34  
Old Posted Dec 13, 2011, 7:21 PM
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Hmmm, this thing just keeps getting dangled.

At least the renderings look slightly more attractive, sort of.
     
     
  #35  
Old Posted Dec 13, 2011, 10:34 PM
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Well they are Archstone apartments now, so hopefully the move to apartments will speed this up.
     
     
  #36  
Old Posted Jun 4, 2012, 12:47 AM
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Hope it gets built soon.
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  #37  
Old Posted Sep 7, 2012, 11:11 PM
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Baby steps, but at least they've filed for the construction permit. From SocketSite today:

Quote:


Granted a twelve-month extension to commence construction late last year, as a plugged-in reader alludes, the building permit has been filed to build a 40-story, 400-foot tower over an 85-foot podium with 345 condo mapped units and parking spaces at 340 Fremont.

At least 40 percent of the units will be two or three bedrooms. And yes, it's one-to-one parking in the building as the project was first approved in 2006. Expect a permit to demo the existing two buildings at 340 and 350 Fremont between Folsom and Harrison to soon follow.
That's an angle I haven't seen before.
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  #38  
Old Posted Sep 7, 2012, 11:24 PM
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Nice to see progress, but can someone please rescue this one from Heller Manus? Did they put ANY thought into the podium? So bland. So uninspired.
     
     
  #39  
Old Posted Sep 8, 2012, 6:58 PM
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Quote:
Originally Posted by 1977 View Post
Nice to see progress, but can someone please rescue this one from Heller Manus? Did they put ANY thought into the podium? So bland. So uninspired.
Yeah, even the awful garage/loading dock or whatever doors they drew in at the bottom in front. It doesn't even look like a completed drawing.
     
     
  #40  
Old Posted Nov 10, 2012, 6:35 AM
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tweakered!

Quote:
Originally Posted by 1977 View Post
Nice to see progress, but can someone please rescue this one from Heller Manus? Did they put ANY thought into the podium? So bland. So uninspired.
rescue on the way! socketsite has updated renderings with tweaks done by Handel Architects






Last edited by timbad; Nov 10, 2012 at 6:39 AM. Reason: added pics
     
     
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