San Francisco sees growth in development projects
A total of $4.7 billion in development projects have began construction in the past year throughout the San Francisco metro area as of Sept. 30, according to a report from Dodge Data & Analytics. Nonresidential real estate development in the area is up 28 percent from 2014. Comparing August 2014 to August 2015, nonresidential development is up 50 percent.
More than 100 new projects have broke ground this year in the San Francisco Bay Area, two of which are in the city of San Francisco, according to Real Capital Analytics.
The John Buck Co., Golub & Co., and MetLife Real Estate Investors have broken ground on the Park Tower at Transbay in San Francisco. The venture acquired the development site from the State of California for approximately $172.5 million. The John Buck Co. invested in the 0.67-acre development property on behalf of JBC Fund V