1355 Market: 1937
1355 Market: July 2012
1TENth: March 2014
Awarded LEED® Gold
Market Square is a 1.1 million square foot, two-building office and retail complex located in the Mid-Market submarket of San Francisco. For many decades, the property was known as the “Western Furniture Exchange and Merchandise Mart,” offering wholesale home furnishings to design professionals and retailers.
Shorenstein purchased the vacant property, seeing an opportunity to modernize and upgrade it into a Class A standard for creative office use.
Shorenstein proceeded with the redevelopment at a time when the surrounding submarket was struggling to attract office, retail, and residential tenants. The Market Square project became a catalyst for other investment in the submarket, fundamentally transforming this part of San Francisco.
Scope of work
- Significantly redesigned the main lobby, and added a great hall to connect the second lobby
- Increased vertical transportation capacity with six new state-of-the-art elevators
- Improved seismic stability with shear walls
- Added a new exterior curtain wall
- Installed new mechanical and electrical equipment throughout the building
- Transformed a former city street between the buildings into a landscaped common
Market Square earned the 2015 San Francisco Building Owners and Managers Association “Innovative Earth Award” for creative re-use of reclaimed materials in the building’s historic lobby. Shorenstein saved money that would have been spent on new finishes and preserved historic elements that connect today’s creative office occupants to the building’s long design and merchandise history in San Francisco.
Shorenstein has leased 100% of the property to dynamic technology tenants such as Twitter, Yammer, and Call Socket. Shorenstein sold a 98% interest in the property in August 2015 and retains a 2% ownership interest, as well as management and leasing responsibilities.
River North Point