June 27, 2012

Double-D's On Market Street 2.0: Dolby Making The Move

1275 Market Street

Currently headquartered at 100 Potrero Avenue, Dolby Laboratories is in contract to purchase the 385,000 square foot building at 1275 Market Street (across Ninth Street from Market Square) with plans to move their people once the building's renovation and seismic retrofitting are complete.

Also underway, shoring to prevent any sliding due to the construction of 17 stories on the adjacent lot at 55 9th Street which will impact the building's "13 decks and amazing views of downtown and the ballpark" a bit.

Dolby to follow Twitter, buys big Mid-Market building for HQ [Business Times]
The Tweet Reincarnation Of 1355 Market Street [SocketSite]
17 Stories And 273 Rental Units Ready To Rise At 55 9th Street [SocketSite]

First Published: June 27, 2012 8:00 AM

Comments from "Plugged In" Readers

Good $50MM payday for Divco/TMG.

Posted by: realist at June 27, 2012 8:38 AM

A lot of that is going into the eq retrofitting. I would say for like a $5 - 10MM payday when its all over.

Posted by: Stucco_Sux at June 27, 2012 8:55 AM

@Stucco-Sux: Retrofit estimates involved were about $10-12M with demolition of the majority of the interiors. It's a good deal for them.

Problem is also that most of those 'amazing views' to the south go away once the adjacent parcel is developed.

Posted by: realist at June 27, 2012 9:58 AM

there are no amazing views to the south. The photo above, and any map, makes it clear that the terraced balconies and views are to the east.

Posted by: James at June 27, 2012 12:54 PM

Does anyone know what triggered the seismo retrofit? The interior remod permits? Or is the owner voluntarily improving the building's robustness?

Interesting that a late 1970s era building is already out of date with seismo code.

Posted by: The Milkshake of Despair at June 27, 2012 1:34 PM

@ James: OK. South EAST views. Having been in the building several times, the best views are really looking out toward Potrero and Twin Peaks. Most of your primary eastern bay views get choked out by buildings along Market. The new multifam building being built will choke out even more of your views.

@TMOD: I believe you needed to strenghten the steel beam to column connections as well as the non-moment frames to prevent lateral drift. Wasn't done as well as it should've been.

Posted by: realist at June 27, 2012 3:04 PM

excuse the twin peaks reference. not enough coffee today.....

Posted by: realist at June 27, 2012 3:09 PM

I love that companies/businesses are finally investing in SF! I say, "Keep 'em coming!"

Posted by: Woohoo at June 27, 2012 7:40 PM

Great news.
Block-by-block mid-Market will be won, and with 1275 and 1355 revitalized together with the three of four current empty-lot developments going on to the West I think finally there is hope.

Any thoughts on what will happen to the existing Dolby sites?

Posted by: brid at June 27, 2012 9:38 PM

Any thoughts on what will happen to the existing Dolby sites?

With any luck, market-rate housing!!!

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