Checking In On Market Street
We have the leasing update on Market Street Place, the city's 250k SF retail center that started demo work nearly a year ago. When done in 2015 on Market Street between 5th and 6th streets, the Gensler-designed see-through glass cube will rise to six levels. (It's the Rubik's Cube of your dreams.) Turns out interest is sky high: SRS managing principal Matt Alexander tells us there are seven LOIs out for tenants and he's talking to several interesting concepts. Nothing's signed as of yet, he adds. The center offers tenants a whopping 35k SF of sales floor space on one floor, which is rare for downtown (Ross leases 50k SF on four floors, he noted at Bisnow's Retail Real Estate Summit last fall). Cypress Equities and The Carlyle Group are the co-developers.