Paramount Group Inc. REIT | StoneCreek Partners was retained to provide real estate advisory services in connection the repositioning of this office complex’s retail podium. The repositioning program consisted of a $40 million capital spend that would re-position the 60,000 SF retail podium for this landmark office building.
The complex, One Market Plaza, features two high-rise towers on top of a six-story office building, a two-story subterranean and parking garage. The historic 11-story Southern Pacific Building, also known as “The Landmark”, was completed in 1916, and incorporated into the development in 1976. Situated prominently along the San Francisco Bay, the office and retail complex comprises an entire city block between Market and Mission Street and Steuart and Spear Street.
The Pavilion Event Space at One Market Plaza is one of San Francisco’s premier event venues. The Pavilion Event Space is made available for special events in this dramatic space. In addition, there are two landscaped patios on the 7th Floor with sweeping panoramic views of the Bay.
The Scope of Work for StoneCreek Partners included review of market support from nearby financial district employees and visitors, re-tenanting mix, guest circulation retrofits, and related subjects. The repositioning of this office Complex’s retail podium has since been completed.