SAN FRANCISCO—JLL will lead a major effort to market and lease Park Tower at Transbay, San Francisco's newest skyline-changing development. The announcement follows news that the tower will eventually rise on the landmark property formerly known as Block 5.

Park Tower at Transbay, a 50/50 joint venture between The John Buck Company and Golub & Company, will be a $690 million development strategically located in the heart of the Transbay neighborhood. Closer to the waterfront than any other ground-up office development in San Francisco, 70% of office space will enjoy striking water views and 14 floors will feature exclusive sky decks. Measuring over 700,000 square feet, the tower's 2018 delivery date coincides with the projected completion of the adjacent Transbay Transit Center.

JLL's San Francisco-based leasing team for Park Tower at Transbay includes Christopher Roeder, Wes Powell, and Steven Anderson.

“Park Tower at Transbay is going to be a game-changing addition for companies looking for a world class headquarters building in San Francisco. The design is spectacular and the development concept is sustainable and imaginative. The project is representative of the two highly experienced development firms that are determined to provide an exponentially more powerful vision for workplace and community. They will drive the success of this key Transbay asset with financial muscle and a globally proven track record,” says Roeder, International Director for JLL.

Wes Powell points out that Park Tower at Transbay was designed to balance practical considerations such as efficiency with state-of-the-art building systems and iconic architecture. Powell notes it's that harmony that distinguishes it from every other office building in San Francisco. “This development will undoubtedly take its place on the international stage next to other ground-breaking developments from across the globe,” explains Powell.   Park Tower, he says, will feature a dramatic two-story lobby, 14 sky decks and floor-to-ceiling glass that offers unobstructed views of the San Francisco Bay, the city skyline and City Park – all built around an efficient superstructure system that combines both concrete and steel framing.

Roeder adds that the demand for this premium class A space continues to be strong.  “The San Francisco office market has experienced a dramatic increase in tenant demand from a variety of business sectors,” he says.  That demand has driven almost five million square feet of net absorption and rental rate growth of almost 90% since 2010, and, he adds, that is the highest growth rate in the United States.  “The South Financial District is the strongest office submarket in the United States, if not the world,” says Roeder, “and it needs a cutting-edge, state-of-the-art tower like this.”

Park Tower at Transbay will rise to a height of 605 feet and feature 43 floors. Located one block south of Market Street, and three blocks west of the San Francisco Bay, the building's Transbay neighborhood location offers convenient access to every mode of transportation San Francisco has to offer. The property is also within walking distance of Moscone Convention Center, popular regional shopping destinations such as Union Square and Westfield Centre, as well as entertainment venues including AT&T Park, home of the San Francisco Giants.