Prime location at 155 Fifth Street will be the future home of the Arthur A. Dugoni School of Dentistry and future University programs
SAN FRANCISCO, CA – (Nov. 22, 2011) – University of the Pacific today announced the purchase of a former Wells Fargo office building to establish a new San Francisco campus in the city’s South of Market district. The building will undergo an extensive renovation and is expected to open in mid-2014.
University of the Pacific closed a $47 million deal with CDC/TMG 155 Fifth Street Associates, to purchase 155 Fifth Street, a seven-story building with approximately 395,000 gross square feet of space. Five floors of the building will house the University’s prestigious Arthur A. Dugoni School of Dentistry, as well as classroom space for other future University programs. The remaining two floors will be leased as premium office space. The building will undergo a comprehensive renovation, including a complete replacement of the building’s exteriors and interior spaces, expected to take approximately two years.
“This new facility allows Pacific to strategically expand its footprint in San Francisco by providing a highly visible presence downtown,” said Pamela A. Eibeck, president of University of the Pacific. “This gives us important opportunities for our dental school, which has been in San Francisco since 1896, and also allows us to build programs for students in our eight other University schools and colleges.”
“I am proud to welcome the University of the Pacific’s Dugoni School of Dentistry to their new home in SoMa,” said San Francisco Mayor Edwin M. Lee. “This new campus represents a significant investment in San Francisco, bringing new jobs, new economic activity and one of the top dental schools in the nation to the heart of our City.”
The new building will contain labs, classrooms, research and support space for the dental school, as well as clinical changes and technology enhancements to support patient care. The location offers close proximity to public transportation, including a nearby BART station, for students, faculty, staff, patients and visitors.
“We are proud to be part of the exciting development activity taking place in the South of Market neighborhood,” said Dr. Patrick J. Ferrillo, Jr., dean of the Arthur A. Dugoni School of Dentistry. “The new facility will allow easier access for our patients to receive oral healthcare and provide state-of-the-art learning environments to support our academic programs.”
Continental Development Corporation (CDC), owned by Richard Lundquist, originally developed the building and owns the adjacent InterContinental San Francisco. Lundquist said, “The dental school’s new location in the center of the city and close to public transportation will enhance health service benefits to the local community.” He added, “We look forward to the upcoming synergistic relationship with a great university and the added vitality its young professionals will bring to the neighborhood. The impressive improvements planned for the building will continue the rejuvenation of the Fifth Street corridor and will provide hundreds of new construction jobs.”
The University previously announced the key partners for the renovation and construction project: The San Francisco office of SmithGroup, Inc. is the lead architect. San Francisco-based Plant Construction Company is the general contractor. Nova Partners, Inc., of Palo Alto, was hired for project management services. The San Francisco office of Grubb & Ellis represented the University in purchasing the building and will market the leasing of the two floors of office space. About 200 trades people are expected to be employed on the project.
Total cost of the building purchase and renovation is expected to be $151 million. The University will fund the cost through an upcoming fundraising campaign, revenue from commercial leases, and the sale of two properties currently used by the dental school in San Francisco’s Pacific Heights neighborhood. sizes, practical experience and a vibrant residential life. Founded in 1851, Pacific is the oldest University in California. Its breathtaking Gothic main campus in Stockton is home to seven schools and colleges. In addition to the dentistry school in San Francisco, Pacific also has the McGeorge School of Law in Sacramento—one of California’s largest law schools. Total University enrollment is nearly 7,000.