Tuesday, October 23, 2012

S.F.'s Transbay Tower Cleared For Construction

National Commercial Real Estate News From CoStar Group

S.F.'s Transbay Tower Cleared For Construction

The Transbay Tower, destined to be the tallest building on the West Coast, has reached two important milestones on the road to construction of the 1.4 million-square-foot, 61-story building.

The San Francisco office of Hines recently finalized the formation of a 50/50% joint venture with Boston Properties (NYSE: BXP) to acquire the land for the tower from the Transbay Joint Powers Authority. The $190 million acquisition of the land for the tower...

GROWTH MODE: Mobile Payment Firm Square Leases 246,078 SF at 1455 Market St. in San Francisco

Fast-growing tech firm Square, Inc., a three-year-old company whose service enables shoppers to charge purchases with their mobile devices, agreed to lease four full floors encompassing 246,078 square feet at 1455 Market Street in San Francisco, with an option to take an additional 81,354 square feet, for a combined commitment of 327,432 square feet of space, backfilling a large portion of the space being vacated by Bank of America.

"This new...

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