More Building, Lending Catapult San Francisco Office

By Lisa Brown : globest – excerpt

Construction-to-permanent financing of $93 million was recently secured for One De Haro, a four-story 60-foot tall building with two-thirds office and one-third light industrial uses totaling 133,427 square feet.

SAN FRANCISCO—Construction continues in the city, in an attempt to satisfy growing demand. One project in specific, One De Haro, is located at the intersection of SOMA, Potrero Hill and Showplace Square districts. Designed by Pfau Long Architecture, the project is a four-story 60-foot tall building which will have two-thirds office and one-third light industrial uses for a total of 133,427 square feet.

Construction-to-permanent financing of $93 million was recently secured for the mixed-use building. A NorthMarq team led by managing director Dennis Williams and vice president Briana Harney secured the funding through a life insurance company relationship on behalf of the Sponsor, SKS Partners of San Francisco…

Even with the delivery of the fully leased 750,000-square-foot Park Tower, San Francisco supply is exhausted trying to keep up with the ever-increasing tech demand, according to a first quarter report by Avison Young. The first quarter closed with a total of 3.8 million square feet of available space on the market. However, with total tenant demand of 8.8 million square feet and new construction deliveries 67% preleased, this amount of space will not satisfy the overall appetite.…(more)


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