Timeline
1355 Market: 1937
1TENth: 1974
March 2011
March 2011
1355 Market: July 2012
1TENth: March 2014
February 2014
August 2015
Original Construction
Acquired
Construction Start
Delivery
Awarded LEED® Gold
Recapitalization

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.

1355 Market Street's Stevenson Hall l Before
1 of 8  |  1355 Market Street's Stevenson Hall l Before
1355 Market Street's Stevenson Hall l After
2 of 8  |  1355 Market Street's Stevenson Hall l After
1355 Market Street's 9th Street Lobby l Construction
3 of 8  |  1355 Market Street's 9th Street Lobby l Construction
1355 Market Street's 9th Street Lobby l Completion
4 of 8  |  1355 Market Street's 9th Street Lobby l Completion
1 TENth Street Lobby | Before
5 of 8  |  1 TENth Street Lobby  |  Before
1 TENth Street Lobby | After
6 of 8  |  1 TENth Street Lobby  |  After
The alley between 1355 Market and 1TENth l Before
7 of 8  |  The alley between 1355 Market and 1TENth l Before
The alley was redeveloped into a green space joining the two buildings together offering seating, fire pits, and eateries.
8 of 8  |  The alley was redeveloped into a green space joining the two buildings together offering seating, fire pits, and eateries.

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.

Repurposed 6,000-square feet of reclaimed wooden beam, originally from the rooftop wood shed, and created wall art with brass panels from the original atrium columns.
Integrated 85 reclaimed marble panels into the restored lobby wall and ceiling of the 1TENth lobby.
Restored the dramatic original Art Deco lobby.
Repurposed 540 mailboxes and 25 brass panels as decorative artwork. Materials salvaged and incorporated into the renovation avoided many tons of landfill waste and preserved distinctive elements of the building’s original use.
1 of 2  |  Repurposed 540 mailboxes and 25 brass panels as decorative artwork. Materials salvaged and incorporated into the renovation avoided many tons of landfill waste and preserved distinctive elements of the building’s original use.
Repurposed 540 mailboxes and 25 brass panels as decorative artwork. Materials salvaged and incorporated into the renovation avoided many tons of landfill waste and preserved distinctive elements of the building’s original use.
2 of 2  |  Repurposed 540 mailboxes and 25 brass panels as decorative artwork. Materials salvaged and incorporated into the renovation avoided many tons of landfill waste and preserved distinctive elements of the building’s original use.

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.

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Note: Case studies are for illustrative purposes only to highlight Shorenstein’s, SRS’s and their affiliates’ real estate and property management experience. There can be no assurance that future investments will be similar in quality. Case studies also may provide examples of Shorenstein Adviser’s application of its EGS program. Descriptions of any ESG achievements or improved practices or outcomes are not necessarily intended to indicate that Shorenstein has substantially or directly contributed to such achievements, practices or outcomes. See Properties page for a list of additional investments and Terms of Use and Disclosures.