SF Park Tower Project Gets City Approval

The San Francisco Planning Commission has approved another office tower around the upcoming Transbay Transit Center as the Park Tower project prepares to move forward with construction at the corner of Beale and Howard Streets. Developed by Chicago-based John Buck Co. and Golub Real Estate Development and designed by Goettsch Partners, the new 43-floor building is expected to deliver in 2018, and add to the nearly 1.1 million square feet of office space that already exists on three blocks around the upcoming Transbay Transit Center.

According to Chris Roeder, International Director at brokerage JLL and Park Tower's main leasing scout, construction of the Tower can ideally commence this November. "The way San Francisco leasing is going, it's just going to happen," he said. "(Companies) are going to pick their building and cut their deal – that's what LinkedIn, Dropbox, Salesforce did. They don't want their competitors to know what they're doing. When it happens, it happens." Roeder said he and his group have already pitched to several business about their potentially leasing office space in Park Tower.

Park Tower tenants will enjoy Bay views from 70% of the floors—the tower will be closer to the bay than any other ground-up office development in San Francisco. The building features over 751,500 square feet of Class A++ office space and high-end retail space, and 50,000 Square feet of outdoor & open space, including 14 sky decks and a ground level park. The other two buildings in the Transbay Transit Center, Salesforce and 181 Fremont Towers, will open in the next couple years.

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