Development permits have been filed seeking the approval of a mixed-use project at 505 Brannan Street in South of Market, San Francisco. The project proposal includes the addition of residential units on top of a mixed-use structure offering retail and office spaces.
Heller Manus Architects is responsible for the building’s design, including pre-built infrastructure, to allow for the future addition of a 165-foot addition.
505 Brannan Street Building Section via Heller Manus Architects
The project site is a parcel spanning an area of 25, 590 square feet. The project proposal includes an 11-story vertical addition to the exisiting six-story mixed-use building. The mixed-use currently offers spaces for office and retail uses, along with two-levels of below grade basement. The office space spans an area of 165,000 square feet. The vertical addition will result in a combined height of 240 feet, consistent with the Central SOMA Plan. Since it will be built as a vertical addition, no ground will be disturbed for the construction of the proposed Project. Parking, loading, bicycle facilities, and street trees for the proposed project are included in the base building.
505 Brannan Street Outdoor Space via Heller Manus Architects
As previously reported, Singapore’s Ascendas Real Estate Investment Trust (Ascendas REIT), purchased two buildings in San Francisco for $572 million. Alexandria Real Estate Equities (ARE) and TMG Partners are on the other end of the move, parting with their partnered ownership of 505 Brannan Street and 510 Townsend Street in the SoMa neighborhood. 505 Brannan Street is a 150,000 square foot development by TMG Partners and ARE. The tech-firm has a lease through 2032, which they are expected to complete.
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I’m not sure if they officially broke their lease or not but 505 Brannan street is no longer occupied by Pinterest. Signage came down earlier this year.
Not sure if that leasing information is correct — Pinterest moved out of the space months ago and removed their external branding. If they do technically still have the lease, they’re probably trying to get rid of it.
It says leased it doesn’t mean it is occupied. A lot of companies signed leases for space they thought the would need prior to COVIDs. They are probably trying it sublease it now. There seems to be a lot of musical chairs going on right now and wherever it stops nobody knows. My prediction is they will start fill up in a few years again and then rents will start increasing. Normally San Francisco always comes back and remote working will be phased out. (my prediction, you can have a different one).