Market Center (San Francisco)

From Wikipedia, the free encyclopedia
  (Redirected from Chevron Tower)
Jump to: navigation, search
Market Center
555-575 Market Street.jpg
555 Market (left) and 575 Market (right)
Former names Standard Oil Buildings
Alternative names Chevron Towers
General information
Type Commercial offices
Location 555–575 Market Street
San Francisco, California
Coordinates 37°47′22″N 122°24′01″W / 37.78955°N 122.4003°W / 37.78955; -122.4003Coordinates: 37°47′22″N 122°24′01″W / 37.78955°N 122.4003°W / 37.78955; -122.4003
Completed 1964 / 1975
Owner Manulife Real Estate
Height
Roof 94.79 m (311.0 ft)
174.65 m (573.0 ft)
Technical details
Floor count 22 / 40
Floor area 283,000 sq ft (26,300 m2)
487,000 sq ft (45,200 m2)
Design and construction
Architect Hertzka & Knowles
Structural engineer H.J. Brunnier Associates
References
[1][2][3][4][5][6][7]

Market Center, formerly known as the Standard Oil Buildings and later the Chevron Towers, is a complex comprising two skyscrapers at 555–575 Market Street in the Financial District of downtown San Francisco, California. It served as the headquarters of the Chevron Corporation until 2001.

575 Market Street is a 40-story, 175 m (574 ft) building completed in 1975, the taller of the two towers. 555 Market Street is the shorter tower at 95 m (312 ft) with 22 stories, and was completed in 1964. The two buildings are surrounded by small ornamental plazas. Both buildings are terra cotta over a granite base.[8]

History[edit]

Chevron occupied the Market Center complex from 1965 until 2001 when it moved its headquarters to its campus in San Ramon, California.[9][10] In 1999, Chevron sold the two buildings to Tishman Speyer and Travelers Real Estate Ventures for US$189.1 million and leased back the office space.[9]

At the time the company officially moved its headquarters, it had already moved most workers to San Ramon, leaving only about 200 employees in San Francisco.[9] By 2003, the complex was 83 percent vacant, and a joint venture between DivcoWest Properties and RREEF bought the property for US$79.5 million. In 2010, RREEF sold the complex to Manulife Financial for US$267 million.[10]

See also[edit]

References[edit]

  1. ^ Market Center at Emporis
  2. ^ 555 Market at Emporis
  3. ^ Market Center (San Francisco) at SkyscraperPage
  4. ^ 555 Market at SkyscraperPage
  5. ^ Market Center (San Francisco) at Structurae
  6. ^ 555 Market at Structurae
  7. ^ "Manulife Financial acquires Market Center Office Complex in San Francisco" (Press release). 2010-09-30. Retrieved 2013-12-14. 
  8. ^ Corbett, Michael R (1979). Splendid survivors: San Francisco's downtown architectural heritage. California Living Books. p. 81. ISBN 978-0-89395-031-6. 
  9. ^ a b c Raine, George (2001-09-06). "Ending an era, Chevron abandons S.F. headquarters / Exodus to San Ramon complete". San Francisco Chronicle. Retrieved 2013-12-14. 
  10. ^ a b Dineen, J.K. (2011-03-25). "Best Office Sale finalist / San Francisco - 555-575 Market St.". San Francisco Business Times. Retrieved 2013-12-14. 

External links[edit]