Project review permits have been filed for the renovations of Anchorage Square in San Franciscos’s Fisherman’s Wharf neighborhood. The project will include refreshed storefronts and improvements to the mid-block courtyard. BH Properties is the applicant and property owner.
City records show the property was sold to Anchorage Holdings in 2004 for $85.3 million. According to the Business Times, Anchorage Holdings is an affiliate of the Abu Dhabi Investment Authority. BH Properties purchased the three-structure complex last summer for roughly $65 million. GBA SF is assisting BH as the permitting consultant.
Anchorage Square In-N-Out Burger location, image by Google Street View
The property is occupied by a five-story parking garage, a 128-key hotel, and a three-story commercial structure with 64,300 square feet of retail space and 24,700 square feet of office space. The most high-profile tenant is San Francisco’s only In-N-Out burger joint. Krispy Kreme closed its Anchorage Square shop in 2021.
The planning application states that the developer wants to “transform Anchorage Square into a captivating and immersive space” to help reinvigorate the dated property and increase foot traffic. The three primary goals for the renovation will be storefront upgrades, improvements to the central courtyard, and adding digital displays along Jefferson Street to attract more customers.
The estimated cost and timeline for construction have yet to be established.
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I read in another article that it was purchased by a Los Angeles company that has great success in turning around unsuccessful properties, so this sounds very promising .
Digital displays along Jefferson Street? More flash and trash.