San Francisco sees growth in development projects
The first three quarters of 2015 have seen a total of $4.9 billion in development projects begin construction throughout the San Francisco metro area, according to a report from Dodge Data & Analytics. Nonresidential real estate development in the area is up 21 percent from the same period of 2014.
More than 100 new projects have broken 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. The office building will be approximately 770,000 square feet, with 10,000 square feet of street-level retail. The property will be designed to meet LEED Gold certification sta