Permits have been filed for demolition of existing office and industrial space located at 180 and 186 Constitution Drive Belle Haven, Menlo Park. The permits also include the demolition of all building structures, related underground, and at-grade infrastructure. Both project site locations have light-industrial land-use. New residential construction is proposed at this site and is called Menlo Uptown Project.
Singapore’s Ascendas Real Estate Investment Trust, or Ascendas REIT, recently 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. This transaction follows the pair’s recent success in selling the 945 Market Street mall to Ikea. The deal marks Ascendas’ introduction to the Bay Area real estate market.
Developers are planning for a new hotel to rise at 447 Battery Street in San Francisco’s Financial District. Sponsored by 447 Partners LLC, the proposal will take a three-story commercial building, retain its historic brick facade, and build an 18-story mixed-use tower. It will be primarily used as a hotel, though nine residential units and ground-floor retail will be included. The proposal will be going to the city’s Historic Preservation Commission at 12:30 pm today, with streaming online options.
Reporting by the San Francisco Business Times reveals that Oceanwide Holdings have paused construction for the much-anticipated Oceanwide Center at 50 1st Street in SoMa, San Francisco. While crews have recently completed the foundation, this announcement makes clear that the structure will not be rising soon. Once resumed, it becomes the second tallest building in Northern California and fourth tallest in the state.