Historic Pier 70 Leases 130K SF To Single Tenant
Historic Pier 70 is one tenant closer to being leased up. Orton Development just signed a 130K SF lease at Historic Pier 70 with Uber-owned Otto, a self-driving truck company, according to the San Francisco Business Times. With this tenant, Historic Pier 70 is 85% leased. Prior leases included 60K SF for Restoration Hardware, 40K SF for Tea Collection and 22K SF for Obscura Digital.
Orton began its $120M redevelopment of eight historic buildings at the 300K SF historic pier in 2014 as part of the first phase of a larger plan to build up the Pier 70 area into a 2.5M SF mixed-use development. The first phase is expected to be completed this year. Forest City is working on the second phase of the project, which will include about 1M to 2M SF of office and commercial, 450K SF of retail, light industrial and art space and thousands of housing units.