Logistics real estate giant Prologis’ project would have more enclosed space than Salesforce Tower
The San Francisco Board of Supervisors on Tuesday gave initial approval to a development agreement with Prologis , the global logistics real estate giant based in The City, for the company to develop a massive new industrial project in Bayview .
Prologis’ long-in-the-works San Francisco Gateway plan, which is subject to further approvals, is to build two, three-story industrial buildings containing nearly 1.64 million square feet of enclosed space — 200,000 square feet more than in Salesforce Tower, The City’s tallest skyscraper. The new buildings will replace four “obsolete” World War II-era warehouses and accommodate myriad businesses, including manufacturers, distribution operators, wholesale storage and light industrial firms, the company said. In addition, there will be about 514,000 square feet of open, “active” roof area, and green building features, notably a 3.2 megawatt solar array. The result, the publicly traded real estate investment trust promised in a statement Tuesday afternoon, will be “a modern, sustainable logistics hub designed to support businesses operating in The City.” The 17.1-acre development site is generally bounded by and includes portions of Kirkwood Avenue to the north, Rankin Street to the east, McKinnon Avenue to the south, and Toland Street to the west. It is currently occupied by single-story production, distribution, and repair buildings, totaling about 448,000 square feet. “Founded on three core principles — quality jobs, community and innovation — this project will deliver infrastructure that keeps goods moving, creates jobs and contributes to San Francisco’s economy,” said Courtney Bell, vice president of development Prologis, in a prepared statement. Ex // Top Stories Here's who now owns the San Francisco Centre mall Mostly empty downtown complex that was once one of The City’s retail centerpieces finally sells a year after listing Wet weather conditions won't put a damper on these 18 SF events Events taking place this week in The City include film screenings, theatrical circus performances and a holiday vinyl record swap Sutter Health reopens urgent care clinic in heart of downtown The clinic reopened as a response to revitalization of San Francisco’s downtown, where the working population is not able to easily access urgent care services. “We are thankful to The City and Bayview Hunters Point community for their partnership and are immensely proud to continue investing in the Bay Area,” Bell said. In connection with the project, Prologis will rebuild eight city blocks of streetscape and infrastructure, and it will fund local programs that support early education, small businesses, workforce training and public art, the company said. The company said the project will lead to 2,100 union construction jobs and 2,000 permanent on-site jobs. It will bring a roughly $7 million annual increase in property taxes, and approximately $16 million in development impact fees , as well as approximately $5.8 million in annual general fund revenues to The City, according to Prologis. Prologis —which has 1.3 billion square feet of real estate across 20 countries, according to its website — traces its history in San Francisco back more than four decades.
Courtney Bell Bayview San Francisco Board Of Supervisors
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