One Market Plaza is a complex of three office buildings at 1 Market Street along the San Francisco Embarcadero . The historic 11-story Southern Pacific Building , also known as "The Landmark", was completed in 1916, and incorporated into the development in 1976 that includes the 43-storey 172 metres (564 feet) Spear Tower , and the 27-storey, 111 metres (364 feet) Steuart Tower . At over 1.5 billion pounds, the complex is considered the heaviest development in San Francisco.
8-707: 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. 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
16-473: 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
24-560: The Landmark building was sold to The Martin Group in 1997 for $ 50 million, after plans by another developer to convert the building to a hotel fell through. An $ 88 million renovation brought modern amenities such as air conditioning and hot water to the building. It later hosted the headquarters of Del Monte Foods for ten years on the building's top three floors. In 2018, Google took lease of 300,000 sqft at The Landmark. As of 2017, Google, as
32-817: 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). When completed, One Market Street
40-457: Was first owned by Morgan Stanley Real Estate and Paramount Group. Later in 2007, Paramount Group purchased a half-interest from Morgan Stanley for $ 720 million. By 2014, Paramount controlled a 51% stake and the rest by Blackstone. The complex was renovated in 1996 by the architect firm César Pelli & Associates Architects . In Spring 2014 a new renovation began, which was completed in 2016. After Southern Pacific's merger with Union Pacific,
48-451: 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. One Market Plaza The plaza
56-630: 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
64-401: 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
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