(Nov. 30, 2022 – San Francisco) – Transwestern Real Estate Services (TRS) announces that it represented Parnassus Investments in a 25,498-square-foot lease renewal and expansion at One Market Plaza in Downtown San Francisco. Transwestern Senior Vice President Gabe Chao represented Parnassus Investments in the transaction.
Parnassus Investments, a pioneer in socially responsible investing, renewed its lease for approximately 18,000 square feet in the Steuart Tower, and expanded its footprint by taking approximately 7,500 square feet of additional space in the same tower. The firm expanded to meet the needs of its growth in size as it responds to demand for its investment services.
“Interest in Parnassus’s investment offerings has grown, and this expansion will allow our team to continue to support our valued clients,” said Marc Mahon, Chief Operating Officer, Parnassus Investments. “Our space at One Market Plaza provides an excellent environment for our team to maintain an optimal work environment, focused on collaboration and communication.”
One Market Plaza consists of 1.6 million square feet of Class A office and retail space towering over the San Francisco Bay. The office complex features two high-rise towers on top of a six-story, large floorplate podium, as well as a two-story subterranean parking garage. Building ownership, Paramount Group, was represented in the transaction by JLL, with Ted Davies leading the discussions.
“It is significant to see Parnassus Investments expand in this landmark San Francisco building,” said Chao. “I have had the pleasure of advising their team on real estate for several years, and it is gratifying to see their success.”
One Market Plaza is 95.8 percent leased and is located in the South Financial District submarket, which had 27.2 million square feet of office inventory with 18.5 percent vacancy, as of the close of the third quarter of 2022, according to research by Transwestern.
About Parnassus Investments
Founded in 1984, Parnassus Investments is a pioneer in socially responsible investing. The firm invests responsibly to build wealth for its clients by selecting businesses that the investment team believes have increasingly relevant products or services, sustainable competitive advantages and quality management teams for their high conviction portfolios. Every investment must meet rigorous fundamental and ESG criteria.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, investment management, and opportunistic endeavors for high-net-worth investors. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions.