Bay Area/ San Francisco
Published on April 15, 2015
735 Montgomery Wants To Be The 'Gateway To Jackson Square'

Chad Elkin with Chad Mitchell Associates.  Photo: Geri Koeppel/Hoodline

Making streets more "active" with storefronts that aren't obscured and windows instead of imposing walls is a hot-button issue in the FiDi. And at least one block is moving in that direction.

After more than a year of intense construction, a building at 735 Montgomery St. at the corner of Jackson Street boasts four new street-level storefronts instead of a blank wall.

The project is billed as "the Gateway to Jackson Square," said Chad Elkin, the broker, listing agent and project manager. In about eight weeks, the "warm shell" should be ready, which means tenants can start putting their own stamp on the interiors.

"It will be very inviting for people walking down the street," he said. "I think what we're doing is really good for the neighborhood because you had a dark, empty block, and now we're creating retail."

Three of the retail/service spaces are about 2,200 to 2,400 square feet and one is 4,000 square feet. All four have both a prime street-level storefront and lower-level space, so the rent —$40 a square foot—reflects a "blended rate," Elkin said. "From our experience, it's a very competitive rate," he said. 

Elkin, who works for Chad Mitchell Associates Inc., said after the construction barriers came down a few months ago, he's seen an uptick in interest for the spaces and has offers on all of them—but he still wants to talk to anyone interested, because none have officially been leased yet.

Also, Capistrano Garden Investments, which has owned the building for 10 years, wants a good mix of tenants. "We've turned down a bunch of people the owner didn't want," Elkin said. "He's very choosy with his uses."

The 31,000-square-foot building dates from 1924 and most recently was home to a bank before becoming offices, Elkin said. The current owner opened up the north-facing side of the building with tall windows on all four storefronts to make the block more enticing. He also added about 2,000 square feet of space to "revitalize" the corner of the building, Elkin said.

735 Montgomery St. Photo: Geri Koeppel/Hoodline

"We want to create something more exciting that just another office building," Elkin said.

The upstairs office tenants in the four-story building worked onsite throughout the project, which included heavy-duty concrete reinforcement and other major renovations.

The new brick work on the exterior is consistent with the character of Jackson Square, which boasts some of the city's oldest structures dating from the 19th century. It also has a roof deck with patio furniture and killer views (sorry, tenants and guests only).