Lincoln Property Company Selected as Asset Manager of Transbay Transit Center in San Francisco
A Berkshire Hathaway Company; May 22,2017
AN FRANCISCO–(BUSINESS WIRE)–Lincoln Property Company has been selected as the asset manager of the Transbay Transit Center, a regional transportation hub under construction in the heart of downtown San Francisco.
The new center, considered to be the “Grand Central Station of the West,” will be constructed in two phases. The first phase of the project will create over 100,000 square feet of retail space in addition to a 5.4 acre rooftop park and a new bus ramp that will connect the Transit Center to an off-site bus storage facility. The second phase of the project replaces the former Transbay Terminal at First and Mission Streets with an extended Caltrain and California High Speed Rail underground, connecting eight Bay Area counties through 11 transportation systems.
The selection of Lincoln Property Company resulted from a competitive RFP process led by the Transbay Joint Powers Authority (TJPA). Lincoln will be responsible for overseeing the leasing and operations of the retail space, marketing and branding efforts for the property, and programming and management of the rooftop park.
“Lincoln has a clear track record of success as an asset manager, and we are excited to bring their high caliber of management expertise to this landmark project,” said Martha Velez, TJPA Facility Manager. “We look forward to working together over the next year to complete one of the most important transit centers in the western region of the U.S.”
“We are honored to join the team bringing the Transbay Transit Center to life,” said John Herr, Executive Vice President of Lincoln Property Company. “There is no doubt that this is a really exciting project with all the right elements of success—including an incredible project team. We’re ready to get to work to create a space worthy of the millions of visitors it will see each year.”
Lincoln will lead a team with extensive experience in leasing, curating public spaces, and marketing and branding.
“It goes without saying that we have put together a landmark team for a landmark project,” said Colliers Executive Managing Director Alan Collenette, who oversees Colliers’ San Francisco, Sacramento, and Marin offices. “Our relationship with Lincoln Property Co. has covered every type of project in every market sector in every part of the nation, extending back over a period of a decade or more.”
“Our vision of the rooftop park at Transbay Transit Center is an elevated ‘town square’ that offers visitor experiences unlike any other public space in San Francisco,” says BRV President Dan Biederman. “We aim to make the park an asset for the entire downtown and South of Market community, as well as a destination for people throughout the Bay Area.”
“We are confident Lincoln shares our vision for what the Transbay Transit Center can become,” said Mark Zabaneh, TJPA Executive Director. “Thriving retail and public spaces are a crucial part of the center’s success. The project will benefit greatly from Lincoln’s capability, and we’re ready to move forward.”
“The Transbay Transit Center is one of the best opportunities for retail and public space that we’ve seen in the entire San Francisco area,” said Stephen Lindgren, Vice President of Lincoln Property Company. “We’re excited and ready to carry out the plan to bring in world-class tenants and curated public open space to what will certainly be one of the most cutting-edge, well-executed modern transit hubs in the country.”