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  • 21 Aug, 2019

  • By, Wikipedia

Southern Pacific Building
The Southern Pacific Building is one of three office buildings comprising One Market Plaza along the Embarcadero in San Francisco, California. The historic 11-story, 65-metre (213 ft) building, also known as "The Landmark", was started in 1916 and completed in 1917.

History

The building served as the headquarters for the Southern Pacific Railroad after its move from the Flood Building in 1917, ten years after SP had moved into the Flood Building in 1907. At its completion, the building's first floor was devoted to retail except for the portion facing the rear courtyard (opening to Mission Street), which was reserved for Southern Pacific. SP rented the second floor to a tenant, but occupied floors three through ten with various offices. For many years, the building was topped with a large sign emblazoned with a gothic "S·P".

It was later incorporated into the 1976 One Market Plaza development which includes Spear Tower and Steuart Tower. By 1995, Sam Zell owned One Market Plaza. However, Union Pacific Railroad was still the owner of One Market Street until the building was sold for US$50,000,000 (equivalent to $93,466,721 in 2023) to The Martin Group (TMG) in 1998. TMG invested another $50 million to renovate the property, including a seismic retrofit, completing work in 1999. Equity Office Properties Trust sold One Market Street to The Blackstone Group in February 2007, and Blackstone, in turn, sold One Market to Morgan Stanley in June 2007 as part of a large real estate acquisition. Morgan Stanley sold approximately half of One Market Plaza to The Paramount Group in July 2007. One Market Plaza was owned jointly by Morgan Stanley (49% share) and The Paramount Group (51% share) until Morgan Stanley sold its share to Blackstone Real Estate Partners in 2014 for US$600,000,000 (equivalent to $772,223,784 in 2023).

Design

When completed, One Market Street was hailed as the tallest steel-framed structure west of the Mississippi. The building is planned in the form of the capital letter "E", with the longest side, 275 ft (84 m) long, along Market Street. The wings on Spear and Steuart Streets are each 210 ft (64 m) long, and the central arm is occupied by elevators. It is designed in the Italian Renaissance style with details executed in Roman brick and terra cotta. The lobby was fitted with Colorado yule marble walls and an ornamental plaster ceiling.

During the 1998–99 refurbishment, two of the eight original passenger elevators were eliminated and custom-sized modern elevator cabs were installed in the other six shafts, running on the original guide rails. The elevators had received a major redesign in 1956, when elevator operators were eliminated by automatic operation.

  • Soon after completion in 1917
    Soon after completion in 1917
  • In 2013, with Spear and Steuart Towers rising in the background
    In 2013, with Spear and Steuart Towers rising in the background
  • The "S·P" sign from The Embarcadero (1956)
    The "S·P" sign from The Embarcadero (1956)
  • Rear courtyard opening on Mission (1917)
    Rear courtyard opening on Mission (1917)
  • Cross-section drawing (parallel to Spear/Steuart)
    Cross-section drawing (parallel to Spear/Steuart)

Former Tenants

Current Tenants

See also


References

  1. ^ "Southern Pacific Building". Emporis. Archived from the original on May 15, 2021. Retrieved September 22, 2022.{{cite web}}: CS1 maint: unfit URL (link)
  2. ^ "S.P. Will Build S.F. Skyscraper". Los Angeles Herald. May 20, 1916. Retrieved February 26, 2017.
  3. ^ "Southern Pacific Building Nears Completion". Mill Valley Record. July 21, 1917. Retrieved February 26, 2017.
  4. ^ Jennings, Frederick (November 1917). "The Southern Pacific General Office Building". The Architect & Engineer of California. LI (2): 60–70. Retrieved February 26, 2017.
  5. ^ King, John (May 30, 2014). "Readers weigh in: S.F.'s lost architectural landmarks". SFGate [blog]. Retrieved February 26, 2017.
  6. ^ "One Market Plaza". Emporis. Archived from the original on March 7, 2016. Retrieved September 22, 2022.{{cite web}}: CS1 maint: unfit URL (link)
  7. ^ Adams, Gerald D. (April 3, 1995). "An investment in eye candy". San Francisco Examiner. Retrieved February 26, 2017.
  8. ^ "One Market bagged for $50 million". San Francisco Business Times. February 15, 1998. Retrieved February 26, 2017.
  9. ^ "The Martin Group is Bullish on San Francisco: The Martin Group Acquires Waterfront Historic One Market Street Building" (Press release). PRNewswire. April 15, 1998. Retrieved February 26, 2017.
  10. ^ "The Landmark at One Market Street". Tipping Structural Engineers. 2014. Retrieved February 26, 2017.
  11. ^ Drummer, Randyl (February 26, 2007). "Morgan Stanley Grabs Equity's San Francisco Assets". CoStar News. Retrieved February 26, 2017.
  12. ^ Hollis, Robert (June 19, 2007). "A partial payment of taxes / Blackstone Group spent billions for S.F. buildings but disputes city's levy". San Francisco Chronicle. Retrieved February 26, 2017.
  13. ^ Dineen, J.K. (July 3, 2007). "Paramount Group buys half interest in One Market Plaza". San Francisco Business Times. Retrieved February 26, 2017.
  14. ^ "Blackstone Pays $600MM to Buy One Market Plaza in San Francisco". The Registry SF. July 3, 2014. Retrieved February 26, 2017.
  15. ^ Wagner, Karen L. (June 1, 2001). "Floor, please?". Building Design+Construction. Retrieved February 26, 2017.
  16. ^ Salesforce grabs more office space in S.F.
  17. ^ Google signs massive SF office lease at former Salesforce headquarters
  • Patricia Yollin (July 4, 2003). "Flood of Memories". The San Francisco Chronicle. Retrieved April 6, 2010.
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