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Transbay Tower Moves Forward Without Salesforce

In one of the largest bets on San Francisco’s recovery, Hines’ Parcel F project is moving forward despite Salesforce’s recent decision to forgo its lease commitment there. Earlier this week, San Francisco supervisors ended the four-year debate and approved the 806-foot tower that will be the city’s fourth-tallest building.

The 956,995-square-foot structure was designed by Pelli Clarke Pelli Architects. The Transbay Tower will include 275,674 gross square feet of class-A office space, 433,556 gross square feet of condominium units and a 247,765 gross-square-foot 5-star hotel, which Hines says has already committed.

Parcel F is located mid-block between First, Second, Howard and Natoma streets at 542-550 Howard St., adjacent to the Salesforce Transit Center (STC) and the bus ramp connecting the transit center to the Bay Bridge. Parcel F is one of only three projects currently allowed to connect directly to STC’s 5.4-acre rooftop park via a planned pedestrian sky bridge.

Hines COO Cameron Falconer said during the hearing that the firm will seek to raise $1 billion from lenders United Overseas Bank and JPMorgan Chase with a goal of starting construction this year.

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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