Elecor Properties executes 150,000 s/f of leases at One Market Plaza

San Francisco, CA Elecor Properties has secured four leases comprising 149,914 s/f at One Market Plaza since the beginning of the year, underscoring strong demand for premier office space and continued flight-to-quality in San Francisco. These transactions follow Elecor Properties’ recent rebrand and announcement of a $250 million investment initiative focused on setting a new standard for workplace experience across its portfolio in New York and San Francisco.

Located at the intersection of Market St. and the Embarcadero, One Market Plaza comprises 1.6 million s/f of waterfront office space across two trophy towers and serves as one of San Francisco’s most prominent office campuses. Spanning an entire city block, the property features more than 60,000 s/f of retail space, direct regional transit access, on-site parking and views of the bay.

The leasing activity highlights the continued demand from leading professional services and technology firms, including a 42,445 s/f lease by global law firm Davis Polk & Wardwell LLP on floors 30 and 31 of Spear Tower and a 33,566 s/f lease by Willkie Farr & Gallagher LLP across the 29^th floor and a portion of the 28^th floor. Another global law firm expanded its existing footprint by 11,519 s/f to occupy a full floor in Spear Tower, and an AI company committed to 62,384 s/f spanning three floors of Spear Tower.

“One Market Plaza combines an iconic waterfront location, exceptional connectivity and large-block availability, complemented by a transformative capital improvement program designed to deliver a truly elevated workplace experience,” said Peter Brindley, executive vice president and head of real estate at Elecor Properties. “These transactions are a testament to the growing demand from leading firms for best-in-class workplaces in premier locations to help attract talent, foster collaboration, and support long-term growth.”

Elecor Properties is advancing a series of planned enhancements at One Market Plaza designed to further elevate the tenant experience. Upcoming improvements include a reimagined atrium and ground-floor arrival experience, a state-of-the-art conferencing center, upgraded fitness facility, atrium bar, executive lounge, rooftop deck and a seventh-floor sky bar.

“Our planned investments at One Market Plaza are focused on creating a workplace experience that rivals the best hospitality destinations,” said David Eaton, senior vice president of leasing at Elecor Properties. “From new gathering spaces and wellness offerings to elevated food-and-beverage experiences and modern amenities, we’re reimagining the office environment to support how today’s tenants want to work. These enhancements reinforce our long-term commitment to San Francisco and our confidence in the city’s continued growth and recovery.”

Recently released renderings outlined Elecor Properties’ plans for transformative upgrades at both One Market Plaza and One Front St. in San Francisco. These upgrades will create dynamic, hospitality-driven office environments that align with evolving tenant expectations and support long-term growth in the city’s office market.

The leasing activity aligns with broader positive trends across the San Francisco office market. According to JLL’s first-quarter market data, San Francisco recorded 1.6 million s/f of positive absorption, marking the city’s strongest quarterly leasing performance since 2019.

JLL’s Chris Roeder, Ted Davies, Tom Doupe, Wes Powell and Teva Myatt represented Elecor Properties in the transactions.