{"id":1004067213,"date":"2013-02-13T11:19:25","date_gmt":"2013-02-13T19:19:25","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=102737"},"modified":"2020-05-18T16:52:48","modified_gmt":"2020-05-19T00:52:48","slug":"boston-properties-acquires-in-development-high-rise-in-south-financial-submarket-sets-sights-on-mixed-use-opportunity-in-virginia","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/boston-properties-acquires-in-development-high-rise-in-south-financial-submarket-sets-sights-on-mixed-use-opportunity-in-virginia\/","title":{"rendered":"Boston Properties Acquires In-Development High-Rise in South Financial Submarket, Sets Sights on Mixed-Use Opportunity in Virginia"},"content":{"rendered":"<p class=\"MsoNormal\"><em>By Alex Girda, Associate Editor<\/em><\/p>\n<p class=\"MsoNormal\" style=\"text-align: justify\">Another major San Francisco office project is the object of a large commercial real estate transaction, after Boston Properties recently announced the purchase of 535 Mission Street. The project, located in the city\u2019s South Financial submarket, was previously owned by Beacon Capital Partners. The company is set to revive the development process halted back in 2008, as construction is set to re-commence by the end of the month.<\/p>\n<p class=\"MsoNormal\" style=\"text-align: justify\">The overall cost of the acquisition is clocked in at around $71 million, with Boston Properties now owning not only the development site, but all materials purchased up to the point of the deal and the existing construction at the site.<\/p>\n<p class=\"MsoNormal\" style=\"text-align: justify\">535 Mission Street is a project for <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/02\/535-mission-street2.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-102738\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/02\/535-mission-street2.jpg\" alt=\"\" width=\"300\" height=\"173\" \/><\/a>a 27-story building with a massive height of 378 feet. The building will offer 307,000 square feet of leasable Class A office and retail space in a LEED Gold certified environment. The property is set to cater to tech tenants looking to relocate or expand in the booming tech-oriented office market of the San Francisco Bay Area.<\/p>\n<p class=\"MsoNormal\" style=\"text-align: justify\">Design-wise, the building will feature a glass front, column-free floor plates, and will offer residents views of San Francisco and the neighboring bay. The development process could take the company&#8217;s overall investment in the office property to around $215 million, a recently issued company statement shows. A completion date is set for the fall of 2014.<\/p>\n<p class=\"MsoNormal\" style=\"text-align: justify\">Apart from being the new owner of the in-development office project at 535 Mission Street, Boston Properties has also secured the last available land parcel at the Reston Town Center. The company shelled out approximately $27 million for the property, which is currently zoned for a possible development of 250,000 square feet of office space. Boston reportedly has its sights set for a mixed-use development that could see a residential component take shape at the Reston Town Center.<\/p>\n<p class=\"MsoNormal\" style=\"text-align: justify\">For more market data from the San Francisco Bay Area, <a href=\"https:\/\/www.multihousingnews.com\/news\/market-snapshot-remaining-a-beacon-for-job-growth-san-jose-multifamily-market-rivals-that-of-the-90s\/1004071174.html\" rel=\"nofollow\">click here<\/a>.<\/p>\n<p>Image courtesy of Google Maps<\/p>\n","protected":false},"excerpt":{"rendered":"<p>535 Mission Street is a project for a 27-story building, with a massive height of 378 feet. The building will offer 307,000 square feet of leasable Class A office and retail space in a LEED Gold certified environment. The property is set to cater to tech tenants looking to relocate or expand in the booming tech-oriented office market of the San Francisco Bay area. Design-wise the building will feature a glass front, column free floor plates and will offer residents views of San Francisco and the neighboring bay. The development process could take the company&#8217;s overall investment in the office property to around $215 million, a recently issued company statement shows.  A completion date is set for the fall of 2014.<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1609],"tags":[],"class_list":["post-1004067213","post","type-post","status-publish","format-standard","hentry","category-latest","category-san-francisco"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Boston Properties Acquires In-Development High-Rise in South Financial Submarket, Sets Sights on Mixed-Use Opportunity in Virginia - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/boston-properties-acquires-in-development-high-rise-in-south-financial-submarket-sets-sights-on-mixed-use-opportunity-in-virginia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boston Properties Acquires In-Development High-Rise in South Financial Submarket, Sets Sights on Mixed-Use Opportunity in Virginia\" \/>\n<meta property=\"og:description\" content=\"535 Mission Street is a project for a 27-story building, with a massive height of 378 feet. The building will offer 307,000 square feet of leasable Class A office and retail space in a LEED Gold certified environment. The property is set to cater to tech tenants looking to relocate or expand in the booming tech-oriented office market of the San Francisco Bay area. Design-wise the building will feature a glass front, column free floor plates and will offer residents views of San Francisco and the neighboring bay. The development process could take the company&#039;s overall investment in the office property to around $215 million, a recently issued company statement shows. A completion date is set for the fall of 2014.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/boston-properties-acquires-in-development-high-rise-in-south-financial-submarket-sets-sights-on-mixed-use-opportunity-in-virginia\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-02-13T19:19:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-19T00:52:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/02\/535-mission-street2.jpg\" \/>\n<meta name=\"author\" content=\"Alex Girda\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-acquires-in-development-high-rise-in-south-financial-submarket-sets-sights-on-mixed-use-opportunity-in-virginia\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-acquires-in-development-high-rise-in-south-financial-submarket-sets-sights-on-mixed-use-opportunity-in-virginia\\\/\"},\"author\":{\"name\":\"Alex Girda\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/540f0253de89dedaae7684239611b81c\"},\"headline\":\"Boston Properties Acquires In-Development High-Rise in South Financial Submarket, Sets Sights on Mixed-Use Opportunity in Virginia\",\"datePublished\":\"2013-02-13T19:19:25+00:00\",\"dateModified\":\"2020-05-19T00:52:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-acquires-in-development-high-rise-in-south-financial-submarket-sets-sights-on-mixed-use-opportunity-in-virginia\\\/\"},\"wordCount\":336,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-acquires-in-development-high-rise-in-south-financial-submarket-sets-sights-on-mixed-use-opportunity-in-virginia\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/02\\\/535-mission-street2.jpg\",\"articleSection\":[\"News\",\"San Francisco\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-acquires-in-development-high-rise-in-south-financial-submarket-sets-sights-on-mixed-use-opportunity-in-virginia\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-acquires-in-development-high-rise-in-south-financial-submarket-sets-sights-on-mixed-use-opportunity-in-virginia\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-acquires-in-development-high-rise-in-south-financial-submarket-sets-sights-on-mixed-use-opportunity-in-virginia\\\/\",\"name\":\"Boston Properties Acquires In-Development High-Rise in South Financial Submarket, Sets Sights on Mixed-Use Opportunity in Virginia - 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