Swinerton In the News

Swinerton Builders: January 08, 2014

Boston Properties tops off S.F.'s Newest Office Tower

San Francisco newest office tower is topped off and looking for tenants. Developer Boston Properties and contractor Swinerton celebrated the hoisting of the last steel beam in the south financial district.

Developer Boston Properties and contractor Swinerton celebrated the hoisting of the last steel beam for 535 Mission St., a 28-story speculative highrise in the south financial district, on Wednesday. While it is one of five spec office buildings under construction, it is the furthest along in terms of construction, largely because the foundation was completed before the market crashed in 2009.

The 535 Mission Street project is one of the first office towers in San Francisco to be pre-certified Gold through the LEED for Core & Shell program. Green features include storm water retention, natural day lighting, and an insulated glass curtain wall system that uses solar-reflective coating to conserve energy.

Boston Properties bought 535 Mission in 2012 and began work with Swinerton Builders. Swinerton had been involved with the project since 2007, originally contracted to build the 28-story skyscraper with a previous owner (Beacon Capital Partners) and broke ground on the site in 2008. However, the project soon became a casualty of the economic recession, and construction was halted later that year. After several years of steady economic recovery in the Bay Area, Boston Properties purchased the property and retained Swinerton as general contractor.

Swinerton president Jeffrey Hoopes said that his relationship with 535 Mission St. goes back even further, to 1986. The parcel was home to a toy store and after the retailer closed down, Swinerton used it as an office during the construction of 100 First St. “We used to find boxes of toys everywhere,” he said.

Boston Properties is the 90 percent owner of the Transbay tower at 101 First St., which the group is building with Hines. Boston Property also purchased 680 Folsom St., the future home of Riverbed Technologies and Macys.com, which TMG Partners entitled and started before selling it. Steve Colvin, Senior Vice President for Boston Properties, said his staff has been watching 535 Mission St. rise on a real-time camera at his office. “i cant belie how fast this building has gone up. it’s absolutely amazing."

Angus Scott of CBRE, who is part of the leasing team, said that tenants have been actively touring the property. He expects to sign multiple deals in the first half of 2014 and that tenant improvements could start as early as next summer, with occupancy by the conclusion of the year. “It’s as clean a building as you will ever find,” he said. “The nice thing with the smaller floor plates is that you get great light every where and that is what everyone wants these days.”

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