The tallest office building west of Chicago, Salesforce Tower is San Francisco’s newest landmark and the most prestigious address the city has to offer. The 1.4-million-square-foot tower is the centerpiece of the San Francisco Transbay redevelopment plan and the new center of the city, featuring the latest in sleek design and architectural innovation, including the capability to draw in 100% outside air on each floor and a foundation built into bedrock by 47 load bearing elements (LBEs). Salesforce Tower’s fifth floor will provide direct access to Salesforce Park, a public rooftop park spanning 5.4 acres. Over a quarter-mile long, the park will feature a wide variety of amenities and activities, including an outdoor amphitheater, open grass areas and gardens as well as a restaurant and café. Salesforce Park will also function as a “green roof” for the new transit center, one of many environmentally-friendly features of the project.
The CAC Group (now CBRE) was engaged as the listing team for the building. Salesforce Tower is the largest single phase office building ever built in San Francisco, and the team’s primary challenge was to develop, staff and execute this ambitious leasing assignment and achieve the city’s highest Class A rents—approximately 30% above the average rate. A successful marketing strategy would convince prospective tenants, including tech and traditional service firms that this premier tower would not be just an office building, but a “vertical campus,” offering a modern, creative environment for employees. Coupled with the 5.4-acre Salesforce Park and Salesforce Transit Center, the new linchpin of the city’s transportation network, the project is the city’s most high-profile development, drawing significant public interest nationally and globally. Finally, the team was tasked with procuring tenant commitments before one of the building’s greatest attributes—the world-class views from its soaring floors—could be fully tested and appreciated by prospective tenants.
Solution & Outcome
When the building opened in January 2018, CBRE had pre-leased 97% of the building, including a landmark lease of 35 floors, or approximately 881,762 square feet to a single tenant. The team helped develop a multi-media marketing suite adjacent to the construction site enabling presentations with exceptional views of the development. The team used a suite of tools to market the building, including a detailed city model, animated renderings and 360 degree panoramic photography taken at the exact height of the floors to showcase the views. In addition to marketing the property on behalf of the ownership, CBRE represented 9 out of the 11 tenants who have signed leases at the tower.