Park Tower Takes Shape
JLL just took the reins on leasing Park Tower at Transbay, which will rise on the Block 5 site. The JV between John Buck Co and Golub will be a $690M masterpiece, with 14 of its 43 floors boasting sky decks. The 700k SF tower will be done in early 2018, and companies could be lining up to lock down space inside. According to JLL's Chris Roeder, who's on the leasing team with Wes Powell and Steve Anderson, tenant demand has driven almost 5M SF of net absorption and rental rate growth of almost 90% since 2010. That's the highest growth rate in the US, and the South Financial District is the strongest office submarket--if not the world--and it's hungry for a tower like this.