The development site fronts Highway 101 between Downtown SanFrancisco and San Francisco International Airport. The 12-storySouth Tower will be built first and have 301,000 sf for office use,11,000 sf of retail space, a 200-seat performing arts center and a100-person childcare facility. The 21-story North Tower will have338,000 sf net rentable for office use and 12,000 sf of retailspace.

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Completion of the first tower is scheduled for the end of 2008.No time frame was provided for the North Tower, which will takeapproximately 21 months to complete. The project also includes a2,000-slip parking structure that will be constructed behind theoffice buildings and 50 surface parking spots.

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Skidmore, Owings & Merrill LLP designed the towers. HathawayDinwiddie Construction Co. is the general contractor. Phil Tippet,James Lees and Tim Grant of CB Richard Ellis have the officeleasing assignment but were not immediately available Wednesday forcomment. Kazuko Morgan and Courtney Griffen of Cushman &Wakefield will manage retail leasing.

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While no asking lease rate has been published for thedevelopment, the best office space in the city is renting at afull-service rate that is right around $40 per sf per year, localindustry sources tell GlobeSt.com. Expected tenants given thesubmarket would be the executive offices of biotech companies alongwith service and technology tenants.

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As for the retail, Morgan tells GlobeSt.com asking rates havenot been determined but that the expected retail mix includes tworestaurants, one more high-end and the other more casual, a coffeeshop and various other service-oriented retail. "The whole area[around where the development will occur] has nothing [in the wayof retail] at the moment," she says.

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Myers Development develops office buildings, multifamily, hotel,golf course and industrial properties. The firm's most recentprojects include Peninsula Mandalay, a 112-unit condominium inSouth San Francisco; 55 Second St., a 375,000-sf office building;and 101 Second St., a 390,000-sf office building in San Francisco'sSOMA district.

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