Just as rising student enrollment and increasing revenue can be a sign of good health for a university and a sharp increase in home prices along with reduced inventory can be a sign of a robust Real Estate market, the growth of tall Sky Scrapers that reach into the clouds along a city skyline is a sign of a vibrant city economy.
Some fantastic cities come to mind.
Just look at Dubai.
Always include Hong Kong.
You can include San Francisco as well.
There is one building in particular that has created a global buzz.
Located at 415 Mission Street between First and Fremont Streets, next to the Transbay Transit Center site, Salesforce Tower is the centerpiece of the San Francisco Transbay redevelopment plan that contains a mix of office, transportation, retail, and residential uses.
When completed, the tower will be the tallest in San Francisco and a defining building in the burgeoning South of Market area. With a top roof height of 970 feet and an overall height of 1,070 feet, it will be the second-tallest building west of the Mississippi River after the Wilshire Grand Center in Los Angeles.
The site of the tower was in a dilapidated area, formerly used as a ground-level entrance to the San Francisco Transbay Terminal, which was demolished in 2011. The TJPA sold the parcel to Boston Properties and Hines for US$192 million, and ceremonial groundbreaking for the new tower occurred on March 27, 2013.
Who is Salesforce exactly?
At their dynamic site salesforce.com they share, “Founded in 1999, Salesforce pioneered the revolutionary idea of replacing traditional desktop CRM software with CRM in the cloud, making it accessible anytime from anywhere. Today, our innovative cloud platform is the world’s #1 CRM solution.
Salesforce is the innovative company behind the world’s #1 CRM solution. Our software is cloud-based, so it doesn’t require a team of IT experts to set up or manage — you just log in and start using it.”
Sounds simple enough.
As of early 2016, Salesforce is one of the most highly valued American cloud computing companies with a market capitalization above $65 billion.
What is CRM?
Customer relationship management (CRM) is an approach to managing a company's interaction with current and potential customers. It uses data analysis about customers' history with a company and to improve business relationships with customers, specifically focusing on customer retention and ultimately driving sales growth.
One important aspect of the CRM approach is the systems of CRM that compile data from a range of different communication channels, including a company's website, telephone, email, live chat, marketing materials, and more recently, social media.
The tower is expected to be completed in 2018 and will have 61 floors.
The original proposal called for a 1,200-foot (370 m) tower, but the height was later reduced.
It will be the tallest building in San Francisco, surpassing the Transamerica Pyramid by more than 200 feet. The tower is expected to become the second-tallest building in the Western United States.
It certainly has its admirers and followers.
Updates are always occurring.
On April 7, 2017, as reported at mercurynews.com, “One of the most visible symbols of San Francisco’s technology-fueled boom is nearing completion and reshaping the city’s skyline.
Builders laid the final beam Thursday for Salesforce Tower, a $1 billion skyscraper that now stands as the tallest office building west of Chicago. The 1,070-foot (326-meter) tower is set to be finished this summer and the main tenant, Salesforce.com, expects to start moving in by the end of the year.”
The innovative financial site businessinsider.com adds, “Salesforce Tower will be the city's tallest and most expensive building when it's completed in July. The 1,070-foot high-rise is expected to cost its developer, Boston Properties, $1.1 billion.”
If you thought San Francisco real estate prices were already high, since the onset of the building of Salesforce Tower, the price of tundra in the city by the bay has sky rocketed.
It’s the biggest and most ambitious project in what city Supervisor Jane Kim called San Francisco’s largest construction boom since the 1906 earthquake.
The San Jose Mercury also reports, “The company has competition from other new buildings rising. There is 5.9 million square feet of offices under construction in the city, with about 38.8 percent pre-leased, according to data from property brokerage Savills Studley Inc. San Francisco had about 81 million square feet of offices as of the end of 2016.”
Known for attracting innovative minds, whether it involves the business and office tower boom or our interest in female sports, San Francisco is always the “It” place to be.
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