SKS Partners and Mitsui Fudosan America have formed a new joint venture to develop an office building
at 270 Brannan Street in San Francisco's South of Market (SOMA) district.
The new partners, including the U.S. operations of Japan’s largest real estate company, join the current owner, South Beach Partners, which will also remain in the partnership.
The 202,000-square-foot building on Brannan near Second Street in SOMA’s South Beach district has long harbored a cluster of San Francisco’s technology companies.
The building will step up from five floors along Brannan to seven floors on the north side of the site, following the contours of Rincon Hill. The joint venture is pursuing LEED Platinum certification and plans to commence construction in the second quarter of 2014 regardless of the preleasing status. Delivery is expected in the second quarter of 2015.
SKS partners in 270 Brannon include Pfau Long Architects, Pankow as the project’s general contractor, and Colliers International as the project’s leasing team. 270 Brannan marks the fifth development project in SOMA that Pfau Long has designed for SKS.
"Demand from the technology sector remains robust as tenants in all phases of the growth cycle desire a San Francisco location in response to where their creative and engineering talent prefers to work," said Mike McCarthy, senior vice president of Colliers International.