الاثنين، 25 يونيو 2012

Revamped Metreon gains momentum - Wichita Business Journal:

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is taking shape, with new restaurants, a theater and cultural attractions. Several leases are signed at the SanFrancisck property; other deals are Owners and Forest City are close to starting renovationss on the problematic 360,000-square-foot building they bought in 2006. Westfield declined to offer any specific updates beyond a 2010 but those with signedf leases have been told that Westfield expectd to complete its work by giving tenants up to five months to build out their spacesd for an April 2010grand reopening. Tavern on the Greenh is the project headliner.
Its plan to open a massivee 40,000-square-foot top floor restaurant has been slowed by the economyg and by uncertainties over its flagshi CentralPark lease. New York City is expectexd to make a decision on the fate of its Tavernh inearly July, and until Tavern knows if its bid to renee its New York lease will prevail, the size and futuree of the business in San Francisco are “If we get renewed in New we’ll probably be in San Franciscio the next day to finalize desigh details,” said Michael Desiderio, chietf operating officer of Tavern on the “If we don’t (get to renew in New York), it may take but we are … very much committedd to being part of of the Metreon and of Tavern initially expected to pay between $11 million and $13 million to buils out its Metreon space.
It is likely to rebid those contracts now, as construction costs have fallej sharply. Many of the new ground floorr tenants are amongSan Francisco’s most successfuk homegrown fast casual eateries, including Bay Bread’s Boulangr chain, Best-o-Burger, Mixt Greens and a new Asianb noodle concept from Arnold Eric Wong and the othee owners of Boulange will open in 1,500o square feet on the prime corner of Missioj and Yerba Buena Ten Boulanges are open today, and several including a first East Bay locationj in Lafayette, will probably open before the Metreon location is “We have one downtown location already, and it’s been a great success,” said Thomas a partner in Bay Bread.
“We’re bringingt a little bit of what we do in the neighborhoods to the Financial District and to conventioneers visitingSan Francisco.” Best-o-Burgerr is taking 2,500 square feet next door to Boulangse on the Yerba Buenaw Gardens side of the Metreon. It will have aboutt 70 seats inside and a covered outdoorseating area, in additiohn to the larger publivc outdoor seating area on the park.
By the time it opensz next spring, owner Steved Weber and his partners will likely have two morestoresw open; one will open in One Marke in about two months and a third will open near Unioh Square before the Metreon’s official Over on the Fourth Street side, next to what will becomse Metreon’s main entrance, E&O Trading Co. will open a 2,700-square-foot noodlde bar that it hopes will be the first in a Those who have discussed planws with Westfield say that the largefr restaurants and retail locations on the perimeter of the grounr floor will open ontothe street. The grouns floor interior will have about 15 foodcourt vendors, similar to Westfield San Francisco Centre.
Whilre the ground floor is devoted to the second floor will be devotedto culture. , which was displaced in 2007 when purchased the buildingt whereit performed, is in advanced negotiations to open a 300-seat theater on the Metreon’s seconxd floor, above the current Jillianzs restaurant, said Executive Director Quentin Easter. No word was available on the fate of Jillianse or otherexisting tenants.
Other tenantes who have had discussionswith Westfield, but have not signee include the , whose Executivde Director, Joann Edwards, would only confirm that the museun is looking for a new space; frozenb yogurt chain Red Mango, whicn said no lease has yet been the ; and Chronicle Books, which will reportedly open a full-sized store on the ground floor. Anothere large cultural institution is expected to take over anotherfbig space. The 10-year-old Metreon was conceived by Sony and was toutedf asthe techno-future of shoppinh and entertainment when it opened in 1999.
Only the movi e theater ever succeeded, and the distinctive building in a primse location has since been an example of urban planningygone wrong, plagued by high tenant turnovetr and lots of empty space. Many believe that Westfieldx andForest City’s plan to renovatde the building and lease it to locao businesses could help the Metreon realizew its missed potential. “It’s a very exciting projecf and will be all of the thingss it should have been from the saidCarol Gilbert, a broker with who has representerd a number of the tenants who have signed

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