Ellis Partners Completes $6M Renovation of Historic 717 Market Street

San Francisco, CA  – Ellis Partners LLC is proud to announce the completion of its major renovation project at 717 Market Street in San Francisco.  The 8-story turn-of-the-century building was purchased by Ellis Partners in December 2006 as part of its expanded holdings along San Francisco’s historic Market Street.  This latest renovation further enhances this stretch of Market Street as an attractive and exciting location for business.

The building was originally constructed immediately after San Francisco’s devastating earthquake in 1906.  Ellis Partners LLC has completed a $6 million renovation and upgrade which includes a brand new lobby, new building facade, and upgraded building finishes.  The revitalized office/retail project boasts more than 81,000 square feet and offers tenants an ideal location between 3rd and 4th Streets on Market.

“This project is all about being an integral part of the revival of Market Street, and making it an even more attractive place for retailers and office tenants to locate,” said James Ellis, Co-Founder and Managing Principal of Ellis Partners LLC.  “We get great satisfaction out of repurposing dilapidated empty buildings and this project represents quite a transformation.  Our decision to completely finish out most of the office space on speculation has proven attractive to many of the bio-tech, clean-tech and web 2.0 businesses that tend to need space on short notice.”

The site was completely vacant at the time of the landmark purchase.  Since marketing efforts to attract new tenants began in late 2007, Ellis Partners LLC has confirmed that 30,211 square feet have already been leased to 6 new tenants, thanks to the work of Scott Harper and Carter Beim of Colliers International.  The 6 new tenants include: Responsys, the W2 Group, ACT Biotech, Sun Run Generation, Allen Interations and Seller’s Market.  Furthermore, negotiations for an additional 10,300 square feet are currently underway.

The 8-story complex includes a broad array of features and nearby amenities that make it an ideal location for business.  This includes easy access from the Montgomery BART station and MUNI line.  The site is also a short walking distance from the Westfield Center, the Four Seasons, the Ritz Carlton, and St. Regis Hotel and Resorts.  Tenants will find the location’s proximity to Union Square and the Yerba Buena Center for the Arts an enticing feature as well.  Convenient underground parking is also available, located in the building’s basement.