REITs in the Community
Salesforce TowerRising from the formerly dilapidated area around a demolished entrance to the San Francisco Transbay Terminal is Boston Properties’ Salesforce Tower. As this rendering shows, the centerpiece of the San Francisco Transbay redevelopment plan is a 1.4 million-square-foot, 61-story tower being built adjacent to the Transbay Transit Center in the South of Market district. The tower will become a landmark addition to the San Francisco skyline and is slated to become the second-tallest building on the West Coast, with its crown soaring to a height of 1,070 feet. The tower will be the focal point of a massive 145-acre development complete with residential housing, hotels, retail space and a transit center serving as the northern terminal of the state’s high-speed rail project.
Cira Centre, Brandywine Realty Trust’s 29-story flagship skyscraper, sits on the west bank of the Schuylkill River and connects Philadelphia’s two primary economic districts: Center City and University City. A signature transit-oriented development, Cira Centre is directly connected to Amtrak’s 30th Street Station – a primary hub for regional, multimodal transportation along America’s Northeast Corridor. At night, the building adds unique excitement to the city’s skyline with 1,500 decorative LED light fixtures programmed to showcase artistic and community-driven light-shows. The Cira Centre was built in a Keystone Opportunity Zone, a state-designated district established to combat urban decay (in this case, part of an underused railyard).