350 Mission, courtesy Skidmore, Owings & Merrill
It’s the New Year, but here in San Francisco (to quote that great American philosopher, Yogi Berra) it’s déjà vu all over again. After a year of growing optimism about the economy, I feel a dot-com fever coming on. Apartments and even condos are rising all around South of Market (SoMa), the hub of the city’s tech industry—and we’re following new commercial leases like celebrity marriages. Did you hear? Salesforce just signed an agreement for all 27 floors of 350 Mission, a Skidmore, Owings & Merrill-designed tower now in construction. This topped off a year of big moves in SoMa by Twitter, Square, Zynga, Yammer, Airbnb and other tech darlings. According to reports, the demand is driving some owners of Class A office buildings to strip vacant floors back to the structure in hopes of boosting their “creative space” appeal.
350 Mission, courtesy Skidmore, Owings & Merrill
Like their dot-com predecessors, this new cast of entrepreneurs prizes SoMa’s stock of historic mid-rise, light-industrial buildings. Those around Third and Brannan Streets are considered some of the hottest properties in the city (or so I’m told by friends fretting over looming lease renewals). In the gnarlier corner of SoMa where I share an office space, itself a dot-com relic, anticipation is running high. Even a nearby church, vacant since the 1989 Loma Prieta earthquake, is up for grabs.
Landmark 120, church, photo by Yosh Asato
