sfflowermart

New Renderedings of Above-Ground SF Flower Mart Revealed

The SoMa-based SF Flower Mart has been a bay city institution for almost 60 years, but when plans were unveiled in 2014 for the establishment to move underground, public outcry was fierce.

Finally, the project has been revamped and the renderings depict a much more appealing above-ground facility, dotted with coffee shops, open space and plenty of sunlight for SF’s floral proprietors. The updated plan follows news that development company Kilroy Realty Corp. had purchased an adjoining  1.75-acre property at 620 Brannan St. bringing the square footage of the entire project to 2.1 million and making it the second biggest commercial development in SF after the Embarcadero Center.

Project Breakdown (see details below)
Creative Office Space: 2 mil sqft
Flower Mart Warehouse: 115,000 sqft
Retail / Market Hall: 100,000 sqft
Public Open Space: 40,000 sqft
Delivery: ~2020

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Mixed-use Retail

Retail:
The San Francisco Flower Mart continues to witness the evolution of one of America’s greatest cities. What began almost 100 years ago as a loose arrangement of local growers selling their wares near Lotta’s Fountain soon grew into a physical marketplace at the corner of 5th and Howard. The market later became a formal institution at its current space at 6th and Brannan. This time, the market will remain in its current location in SoMa, but a major reshaping will make it the focal point of a dynamic, mixed-use space that offers a unique take on the urban lifestyle.

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Revamped Warehouse

The Warehouse:
The new San Francisco Flower Mart will include a modern, 115,000 sqft street-level warehouse, large enough to accommodate all tenants of the existing flower market. The improved layout will include secured entry points, as well as direct access to loading and parking to better service both input and output activities. 24-foot-high ceilings and strategically placed skylights create a light and airy feel inside of the warehouse and provide enough space for a multipurpose mezzanine level along the perimeter of the market. Energy efficient refrigeration will be located adjacent to each individual vendor stall. The specific details of the new facility will be further developed over the next several months by Kilroy Realty Corporation, San Francisco Flower Mart LLC, and a committee of Flower Mart tenants to ensure that the new market functions efficiently and effectively for businesses and customers.

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Public Plaza

Integrated Public Plaza:
A series of integrated stairs throughout the site connect the amenity levels above to an expansive public plaza at the street level. The plaza will be the focal point of the Central SoMa neighborhood, which is currently lacking in high quality, well-maintained public open space. Boasting several convenient access points, connecting through the Market Hall, and encouraging pedestrian activity from nearby public transit, the plaza will also act as a programmable space for events such as famers’ markets and floral exhibitions. Pedestrian connections woven through the site are designed to address the recommendation of the Central SoMa Plan to link the surrounding city blocks to create more of a neighborhood feel. Through integrated windows off of the plaza, visitors and tenants will have the opportunity to catch a glimpse into the world of the fast-paced flower business without disrupting the busy wholesale operation inside.​

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Creative Office Space

 

Creative Office Space:
Rising above retail experience will be a series of LEED Platinum-certified creative office buildings connected by sky bridges, giving tenants the flexibility to enjoy either large or medium-sized floorplates. A mix of rustic and modern facades and a low-rise podium building above the Market Hall on Brannan Street celebrates the industrial history and creative future of the neighborhood. Amenity plazas located above the Flower Mart warehouse at 14 and 24 feet contribute to a healthy office environment by providing office tenants with a convenient connection to the outdoors, attractive seating zones, recreational areas, and kiosks. This amenity zone, activated by the adjacent market and dynamic landscaping, will also extend the visual and functional identity of the Flower Mart.

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On the Chocolate Block

Music to our ears, “Custom European refrigerator, custom Italian freezer, high end cupcakes, cheesecakes, and other fine baked goods”. We were sold with the custom fridge and freezer, but throwing in cupcakes and other fine baked goods has put us over the top. Now we just need the time to be there everyday.

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Belgano Chocalatier, and all the sweets and espresso you could desire could be yours for a mere $130,000. Location is pretty damn “sweet” too…on 24th Street in Noe Valley.

Belgano Chocolatier [MLS]

Businesses continue to move to San Francisco…and that’s good for housing

A lot of people, when looking at housing prices and the residential market, overlook the commercial market. The two markets are very much intertwined. Businesses need employees, and those employees will need a place to lay their head at night, unless they want to spend their life in hell (traffic) commuting from hell (Stockton comes to mind). This San Francisco Chronicle article is worth a read, and again…we highly recommend getting a subscription to the San Francisco Business Times.

Some notable quotes:

“Average asking rental rates in downtown San Francisco reached $38.31 per square foot annually, a 6.8 percent increase over the previous quarter and 25.8 percent above the previous year for the entire downtown market…

“During the second quarter, the survey found that available downtown space dropped by 242,000 square feet, reducing the vacancy rate to 8.5 percent. In the South of Market area, available space decreased by 51,000 square feet, lowering the vacancy rate to 6.6 percent.

The Bay Area’s hot commercial real estate sales market is partially responsible for the increasing office rents, the study said. Rental rates are rising faster in buildings that changed hands in the past two years.”

Making assumptions is the worst thing anyone could do in real estate, and even in life, but it is safe to assume that vacancy is declining and rates are increasing because businesses see San Francisco as a good place to do business…and good employees want to be with good companies in great cities.

Bay Area market is booming — rents enjoy healthy increases Vacancy rates edge down somewhat during 2nd quarter [San Francisco Chronicle]