Development rumors have swirled around the Bay Club's SF Tennis center in SoMa for the past year, and now the San Francisco Business Times reports that a sale to Alexandria Real Estate Equities is close to being finalized. The property at Fifth and Brannan streets is currently home to 24 indoor and outdoor tennis courts, but it is also the last big available site in the Central SoMa area, and it should soon see height limit increases to 160 feet take effect with new zoning. The tennis club is just across the street from the Flower Mart that is set for redevelopment and in the middle of what is expected to become a hub of new office space and housing.
Exact plans for the tennis club site have not been made public yet, but Alexandria has a strong office presence already in San Francisco. Nationally, the real estate investment trust is focused on biosciences tenants and does have Bayer AG and UCSF in Mission Bay, but has also ventured into working with Uber and Stripe on their future headquarters. Members of the tennis club previously succeeded in blocking a condo tower that would have razed their courts, so this development could get contentious if they rally to save their club yet again.
· Tennis Club Sale Looms As Alexandria Looks to Ace Last Major SoMa Land Deal [SF Business Times]
· Previous Coverage of the Flower Mart [Curbed SF]
· San Francisco Locations [Alexandria Real Estate]
· SHoP Architects' Uber HQ Will Arrive in Approximately One Million Minutes [Curbed SF]
· Pulte Drops Condo Plan for S.F. Tennis Club Site [SF Business Times]