SAN FRANCISCO--(BUSINESS WIRE)--Lincoln Property Company has been selected as the asset manager of the Transbay Transit Center, a regional transportation hub under construction in the heart of downtown San Francisco.
The new center, considered to be the “Grand Central Station of the West,” will be constructed in two phases. The first phase of the project will create over 100,000 square feet of retail space in addition to a 5.4 acre rooftop park and a new bus ramp that will connect the Transit Center to an off-site bus storage facility. The second phase of the project replaces the former Transbay Terminal at First and Mission Streets with an extended Caltrain and California High Speed Rail underground, connecting eight Bay Area counties through 11 transportation systems.
The selection of Lincoln Property Company resulted from a competitive RFP process led by the Transbay Joint Powers Authority (TJPA). Lincoln will be responsible for overseeing the leasing and operations of the retail space, marketing and branding efforts for the property, and programming and management of the rooftop park.
“Lincoln has a clear track record of success as an asset manager, and we are excited to bring their high caliber of management expertise to this landmark project,” said Martha Velez, TJPA Facility Manager. “We look forward to working together over the next year to complete one of the most important transit centers in the western region of the U.S.”
“We are honored to join the team bringing the Transbay Transit Center to life,” said John Herr, Executive Vice President of Lincoln Property Company. “There is no doubt that this is a really exciting project with all the right elements of success—including an incredible project team. We’re ready to get to work to create a space worthy of the millions of visitors it will see each year.”
Lincoln will lead a team with extensive experience in leasing, curating public spaces, and marketing and branding.
- Colliers International Group Inc. (NASDAQ: CIGI) will manage the retail leasing.
- The Colliers team will be led by Executive Vice President Julie Taylor whose professional resume includes leasing exclusive addresses to some the nation’s and the world’s most recognizable and high-profile brands. She will be joined by Senior Vice President Erika Elliott and Vice President Ann Natunewicz, both of whom have negotiated retail transactions for many of the City’s ‘high street’ retailers and national credit tenants.
- Biederman Redevelopment Ventures (BRV), a firm specializing in creating and operating parks, public spaces, and neighborhood streetscapes, will manage and curate programming for the rooftop park.
- Pearl Media will lead the media and promotional efforts for the property, including content curation, and sales and management for over 274 digital displays. Pearl will also curate custom events, experiential activations, sponsorships and mobile integration.
“It goes without saying that we have put together a landmark team for a landmark project,” said Colliers Executive Managing Director Alan Collenette, who oversees Colliers’ San Francisco, Sacramento, and Marin offices. “Our relationship with Lincoln Property Co. has covered every type of project in every market sector in every part of the nation, extending back over a period of a decade or more.”
“Our vision of the rooftop park at Transbay Transit Center is an elevated 'town square' that offers visitor experiences unlike any other public space in San Francisco,” says BRV President Dan Biederman. “We aim to make the park an asset for the entire downtown and South of Market community, as well as a destination for people throughout the Bay Area.”
“We are confident Lincoln shares our vision for what the Transbay Transit Center can become,” said Mark Zabaneh, TJPA Executive Director. “Thriving retail and public spaces are a crucial part of the center’s success. The project will benefit greatly from Lincoln’s capability, and we’re ready to move forward.”
“The Transbay Transit Center is one of the best opportunities for retail and public space that we’ve seen in the entire San Francisco area,” said Stephen Lindgren, Vice President of Lincoln Property Company. “We’re excited and ready to carry out the plan to bring in world-class tenants and curated public open space to what will certainly be one of the most cutting-edge, well-executed modern transit hubs in the country.”
The TJPA has primary jurisdiction with respect to all matters concerning the financing, design, development, construction, and operation of the Transbay Program. The TJPA is a joint exercise of powers authority created by the City and County of San Francisco, the Alameda-Contra Costa Transit District, the Peninsula Corridor Joint Powers Board, and Caltrans. The TJPA is managed by TJPA staff and is overseen by a six-member Board of Directors consisting of representatives from the City and County of San Francisco, the Alameda-Contra Costa Transit District, the Peninsula Corridor Joint Powers Board, and Caltrans. Learn more at www.TransbayCenter.org.
About Lincoln Property Company
Lincoln Property Company, founded in 1965 by its chairman Mack Pogue, is a privately-owned real estate firm involved in real estate investment, development, property management and leasing worldwide. Lincoln has offices in all major markets of the U.S. and throughout Europe. Lincoln’s cumulative development efforts have produced over 130 million square feet of commercial space and over 212,000 multifamily residential units. Lincoln Property Company is the second largest apartment manager in the United States. Access www.lpcwest.com for more information.
About Colliers International Group Inc.
Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is an industry-leading global real estate services company with more than 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting. Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals.
About Biederman Redevelopment Ventures
Biederman Redevelopment Ventures (BRV) specializes in creating, redeveloping, and operating parks and public spaces and emerged from the work of Dan Biederman at Bryant Park in New York City. BRV uses placemaking techniques to create safe, clean, and dynamic public spaces that serve their surrounding communities with free amenities, classes, and events for the public and also catalyze economic development. Learn more at www.brvcorp.com.
About Pearl Media
Pearl Media, pioneers in out-of-home and brand experiences are the exclusive media and promotional partners of the Transbay Transit Center. With their vast experience in venue activation, Pearl will be responsible for content curation, sales and management of over 274 digital displays. Pearl will lend its experiential services to create unique brand opportunities such as custom events, experiential activations, sponsorships and mobile integration. Through these opportunities, Pearl Media delivers value to consumers, brands and tenants alike that will generate additional revenue streams for the Transbay Transit Center. Learn more at http://pearlmedia.com/.