This morning, Cypress Equities broke ground on its 250k SF project coming to Fifth and Market. We were sinking in the soft dirt that's already moving to make way for the premier shopping destination, which is going after Rodeo Drive-type tenants (SRS Real Estate Partners is marketing it). Here Cypress CEO Chris Maguire (with Mayor Ed Lee and Supervisor Jane Kim) showed what the groundbreaking was supposed to include: a big rendering on the side of a neighboring brick wall...
...but due to lost Internet connection, that couldn't happen--so we photoshopped a pic to show what he intended. (Maybe he can thank us with a future shopping spree?) Floor plates are huge (40k SF), and we learned this morning a TBA anchor tenant is close to signing. Spaces could be broken out in the 4k to 10k SF range for smaller retailers on the second and third floors. Midmarket can start dropping dough when the project debuts in 2016.
