JV Wraps Up Construction on Facebook-Leased San Francisco Tower
Park Tower at Transbay has set a record with the largest single lease deal in the city’s history.
Goettsch Partners has finalized work on Park Tower at Transbay, an 803,700-square-foot office property in San Francisco. A partnership including The John Buck Co., Golub Co. and MetLife developed the 45-story tower, which marks the first building completed by GP in the city. Facebook preleased the entire office component of the Class A+ building in 2018 in a landmark deal—the largest single lease transaction in San Francisco’s history.
Park Tower at Transbay is located at 250 Howard St., on the corner of Howard and Beale streets, in the Transbay District. The asset is across the street from the new Transbay Transit Center and three blocks away from the bay.
Distinctive design
The 605-foot tower’s design features a massing that integrates three distinct floor plates, which include a series of outdoor terraces carved out to resemble “parks in the sky.” The facade consists of floor-to-ceiling glass and vertical glass fins, and according to Scott Seyer, principal & senior project designer at GP, the materiality and scale of the facade changes with each separate floor plate area.
The fritted pattern is repeated all the way through the base, where the property features a covered 3,600-square-foot outdoor plaza with seating areas and an art installation dubbed “Night Writing” by Teresita Fernandez. Park Tower at Transbay is LEED Gold certified, incorporating sustainable features such as high-efficiency building systems, natural ventilation and raised floors.
According to Yardi Matrix data, the property is subject to financing in the amount of $550 million, originated earlier this year, in July. A $315 million mortgage is held by Bank of America, while the second, $235 million note is a CMBS loan held by Wilmington Trust.
