Elecor Properties, recently rebranded from Paramount Group, has completed a series of new office leases at One Market Plaza in San Francisco, marking a busy start to the year at the two-building waterfront complex. Since the beginning of the year, the firm has secured four transactions totaling 149,914 square feet, aligning new tenancy with its broader investment plans for its coastal portfolio.
The new leasing activity is anchored by two global law firms that have committed to significant space in the property. Davis Polk & Wardwell LLP signed a 42,445-square-foot lease, while Willkie Farr & Gallagher LLP took 33,566 square feet. Both firms are expanding or establishing their presence within One Market Plaza, adding blue-chip legal users to the tenant roster.
Legal space commitments were complemented by additional professional and technology leasing. Another global law firm expanded its existing footprint at the complex by 11,519 square feet to take a full floor, highlighting a willingness among some occupiers to consolidate operations into a single, contiguous office plate. In a separate deal, an artificial intelligence company committed to 62,384 square feet across three floors, further diversifying the tenant mix and bringing an additional technology-oriented user into the project.
The increased leasing follows Elecor Properties’ announcement of a $250 million investment initiative across its New York and San Francisco portfolio. While specific project-level allocations were not disclosed, the announced program includes a comprehensive upgrade plan at One Market Plaza aimed at enhancing the workplace environment and overall tenant experience at the property.
At One Market Plaza, Elecor Properties is advancing a series of upgrades that will reshape common areas and building amenities. Plans call for a reimagined atrium and refreshed ground-floor arrival sequence, along with the addition of a state-of-the-art conferencing center. The program also includes an upgraded fitness facility, a new atrium bar, an executive lounge, a rooftop deck and a seventh-floor sky bar, all intended to elevate the on-site offerings available to current and future tenants.
Elecor executives emphasize that the property benefits from its waterfront location and strong connectivity, combined with the ability to accommodate larger blocks of space. Peter Brindley, executive vice president and head of real estate at Elecor, noted that the blend of location, large-block availability and the capital improvement program is designed to deliver an elevated workplace experience for occupiers at One Market Plaza.
On the leasing side, Elecor Properties was represented in the transactions by a JLL team. JLL’s Chris Roeder, Ted Davies, Tom Doupe, Wes Powell and Teva Myatt handled the landlord representation for the new and expansion leases at One Market Plaza.
