Kilroy Keen on The Golden Gate City

Kilroy Realty is building big in San Francisco.
Robert Paratte

Robert Paratte, Kilroy

Ground has officially been broken for The Exchange on 16th, a 700,000-square-foot office complex in San Francisco’s Mission Bay district, its developer, Kilroy Realty Corp., announced late Thursday. Designed by Rios Clementi Hale Design Studios, the approximately $485 million project consists of two six-story and two 12-story buildings aimed at both office and life science tenants.

In an innovative arrangement, up to three “super floors” of about 90,000 square feet each, and with 14-foot clear heights, can be assembled across all four buildings, if a tenant were to prefer that configuration to a more traditional vertical one, Robert Paratte, Kilroy’s executive VP for leasing and business development, told Commercial Property Executive

The site, at 16th and Owens streets, lies between I-280 and the Mission Bay campus of the University of California – San Francisco. It’s also across the street from Mariposa Park, a 2.4-acre public park that opened this summer.

The ExchangeThe project’s amenities reportedly will include collaborative outdoor spaces, including two large public lobbies and rooftop gardens, about 15,000 square feet of retail space, and a lobby “bike spa.” The latter will be part of the complex’s focus on alternative transportation, which in turn is a key element in its targeted LEED Platinum certification.

Site work began in May and work on the concrete foundations is now underway. The Exchange on 16th is scheduled to be completed in the fourth quarter of 2017, and as of now there is no preleasing, Paratte said.

“The Exchange is a project about creative workspace for the modern technological age. With easy freeway access, ample public transportation and numerous residential and retail options within walking or cycling distance, The Exchange sits at the intersection of high-tech industry and dynamic locale,” John Kilroy, the developer’s chairman, president & CEO, said in a prepared statement.

Counting The Exchange on 16th, Kilroy Realty has four projects encompassing more than 1.6 million square feet of space, with a total estimated investment of $1.1 billion, under construction in the Bay Area. The other three projects are fully preleased to, Box Inc. and Dropbox.