Redone Ferry Building Gains First Tenant

SAN FRANCISCO-The newly renovated, historic Ferry building in San Francisco has landed its first new tenant—a municipal debt-underwriting firm has committed to a 10-year lease with landlord Wilson Meany.

Stone & Youngberg inked a deal for 33,000 sf on the third level of the Ferry building, which is located at Market St. and Embarcadero. The rental rate is rumored to be in the mid-$30′s per sf, full service.

The underwriting firm plans to relocate from its office at 50 California St. to its new space in June 2003, shortly after Wilson Meany opens the new Ferry building, which is being completely renovated in an $80 million project. The Ferry building was built in 1903 and required some major reconstruction after the 1906 earthquake. The developers are converting the Ferry building into a 68,000-sf restaurant area and 170,000-sf office plaza.