Second Phase Encompasses Approximately 5 Million Square Feet of Commercial Space
SAN FRANCISCO (Sept. 15, 2016) – FivePoint Holdings announced today that Cushman & Wakefield has been named the exclusive leasing agent for approximately 5 million square feet of commercial space as part of the second phase of development at The San Francisco Shipyard, a multibillion-dollar waterfront community along San Francisco’s southeastern shoreline.
Led by Managing Principals Mike Moran and J.D. Lumpkin, the Cushman & Wakefield team is spearheading commercial leasing efforts, attracting innovative office, life-science and research and development occupiers. Leasing opportunities for the commercial phase will begin in early 2017.
“The revitalization of The San Francisco Shipyard is well underway with its first residents enjoying their new homes, wide-open green spaces and incredible views of the Bay and Downtown San Francisco. The addition of commercial space will draw a variety of businesses including local nonprofits, makerspaces and thousands of jobs to the area, having a significant, long-term positive economic impact on the community,” said Kofi Bonner, regional president for FivePoint Holdings. “FivePoint selected Cushman & Wakefield because of their ability to attract world-class tenants and their passion for this transformative project.”
The San Francisco Shipyard is one of the largest urban redevelopments on the West Coast and provides an extraordinary opportunity to participate in the creation of a radical new San Francisco neighborhood. The Shipyard is an integrated community that delivers thousands of new homes, a state-of-the-art commercial district including offices, makerspaces, research facilities, restaurants, shopping in new and reclaimed heritage buildings situated amongst acres of public space and sports grounds.
The first phase of The SF Shipyard is now underway and encompasses close to 400 homes that are either built or under construction with 110 homes occupied. More than 500 homes are still planned to be built and completed by 2020. When the second phase breaks ground in 2017, there are an additional 4,275 homes to be built and completed by 2027.
The SF Shipyard is the anchor to a wider vision that incorporates the iconic Candlestick Park site. Together, at over 760 acres, these new urban communities will offer 12,000 homes with a mix of affordable and market-rate apartments, townhomes and condominiums and 600,000 square feet of retail adjacent to more than 350 acres of waterfront parks, trails and restored shoreline.
“Cushman & Wakefield is thrilled to partner with FivePoint in serving as the stewards of this historic site,” said J.D. Lumpkin, managing principal of Cushman & Wakefield’s San Francisco office. “The San Francisco Shipyard is an unparalleled opportunity for the Bay Area’s leading technology, life science and research and development companies to support a workforce population on a scale and in a way that is not possible anywhere in San Francisco or Silicon Valley. Imagine 12,000 new homes and a million square feet of retail and restaurants on a beautiful waterfront site inside the City of San Francisco, all within immediate walking distance to approximately 5 million square feet of truly inspiring workspace. Our team is dedicated to enabling The SF Shipyard to realize its full potential and come alive again with leading-edge enterprises, thousands of new residents, bustling neighborhood shops and restaurants and community space. The SF Shipyard’s transformation is underway and you really have to see it to believe it.”
To learn more about The San Francisco Shipyard, visit TheSFShipyard.com call 415.975.4181 or connect at @TheSFShipyard.
About The San Francisco Shipyard
The San Francisco Shipyard is a transformative community being built with the same spirit of artistry and progressive ideas that define San Francisco. It is a revitalized waterfront neighborhood with a bold new vision offering a mix of residences, retail, entertainment, a research and development campus, acres of parks and trails. Situated in San Francisco’s Bayview neighborhood overlooking the picturesque waterfront, The San Francisco Shipyard is just 3.5 miles from the city’s SoMa district and less than 15 minutes from downtown via car. The San Francisco Shipyard, and its sister community Candlestick, are 20-year, multi-billion-dollar redevelopments that encompass a total of 760 acres where there will be more than 12,000 new homes, nearly five million square feet of research/development and workspace and over 350 acres of parks and open space. Homes range from studios to three-bedroom designs and buildings include townhomes, mid-sized condo flats and high-rises. Because of the waterfront location, almost all homes have breathtaking views of the Bay and San Francisco skyline. For more information on The San Francisco Shipyard, visit thesfshipyard.com, call 415.975.4181 or connect at @TheSFShipyard.
About FivePoint Holdings
Spanning the state from Southern California to the San Francisco Bay Area, FivePoint is the largest owner and developer of mixed-use, master planned communities in coastal California based on the total number of residential homesites permitted under existing entitled zoning. These communities represent major real estate developments in three of the most dynamic and supply-constrained markets along the California coast—Orange County, Los Angeles County and San Francisco County. For additional information, visit fivepoint.com.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.