SAN FRANCISCO, Dec. 04, 2025 (GLOBE NEWSWIRE) -- Today, luxury real estate development firm SHVO announced the completion of nine transactions for a total of 222,000 square feet at Transamerica Pyramid, and three leases totaling 11,000 square feet at Two Transamerica, demonstrating the continued demand for high-quality office spaces within San Francisco’s Financial District.
Asking rents across the recent transactions have achieved above-market rents between $120 and $300 psf. Transamerica Pyramid now boasts the highest rents in San Francisco and the second highest office rents in the U.S. The building is currently 85% leased, with major leases signed with top-tier technology, venture capital and law firms, including Morgan Lewis and AppDirect.
Transamerica Pyramid Center was represented by Chris Roeder, Matt Shewey and Carlyle Parker from JLL.
“Since acquiring Transamerica Pyramid Center in 2020, at a time when many were questioning the future of San Francisco, we recognized an opportunity that others overlooked,” said Michael Shvo, Chairman and CEO of SHVO. “We saw the potential to honor the building’s legacy while reimagining its future, and over the past several years, that vision has come to life. Today, Transamerica Pyramid Center has solidified its position as the most desirable trophy asset in San Francisco, outperforming the market by attracting tenants from premier industries and helping catalyze the revitalization of the neighborhood.”
Located on the northern edge of San Francisco’s Financial District in the heart of Jackson Square, Transamerica Pyramid Center encompasses Two and Three Transamerica and Transamerica Redwood Park. Following SHVO’s acquisition in 2020, an extensive remastering and reimagining of the property by renowned architect Lord Norman Foster created a hotel-like aesthetic with luxurious private amenities and expanded public spaces. Transamerica Pyramid features a renovated grand lobby, exclusive top-floor bar, sky lounge, gym, spa, conference spaces, and more. At its core is Transamerica Redwood Park, an urban oasis in the heart of the city that has been meticulously restored and expanded, featuring a grove of mature redwood trees, shaded public open space, and new sidewalks and seating. The park is open daily from sunrise to sunset.
Transamerica Pyramid Center has re-energized Jackson Square and the surrounding neighborhood by creating inviting public spaces and places that are activated via year-round public programming, events and unique dining options. SHVO’s Pyramid Arts program presents a mix of world-class exhibitions and local partnerships that celebrate innovation and creativity across the arts and sciences. The first installations, both curated by Lord Norman Foster, included The Vertical City, a selection of his architectural achievements focused on skyscrapers, and Les Lalanne at Transamerica Redwood Park, an outdoor exhibition honoring the work of iconic French artists Claude and François-Xavier Lalanne.
Exhibitions currently on display include Pyramid Dreams, a collection of artwork inspired by the Transamerica Pyramid by San Francisco schoolchildren in Two Transamerica, and the Time Capsule Exhibition, presenting contents found in a time capsule buried under the pyramid more than 50 years ago. The cylindrical steel capsule was found completely intact, containing a collection of mementos collected during the Transamerica Pyramid’s original development in the 1970s, as well as items that mark the site’s historical significance. Past as Prologue: The Last Decade of Furniture Design by Ray and Charles Eames (1968–1978) is on view in the Annex and in Transamerica Redwood Park, Max Ernst at Transamerica Pyramid Center presents twelve bronze sculptures by the influential 20th-century artist Max Ernst. All exhibitions are open daily from 10 AM to 5 PM and free to the public. Since re-opening last September the exhibitions in the Annex have welcomed more than 130,000 visitors.
A suite of restaurants by acclaimed Chef Brad Kilgore include Café Sebastian – a neighborhood bistro featuring an all-day menu and an extensive in-house pastry program, MadLab Kakigori – a creative spinoff of Chef Kilgore’s celebrated Miami gelato spot, and the newly opened ama by Bradley Kilgore – offering a chic and high-energy Itameshi dining experience, blending Italian soul with Japanese technique and use of umami. Tucked behind the main dining room, guests will discover ama Social Club—a hidden dining room and lounge inspired by 1970s glamour and a nod to the architectural legacy of the Transamerica Pyramid.
ABOUT TRANSAMERICA PYRAMID CENTER
The Transamerica Pyramid opened in 1972 at 600 Montgomery Street, long known as the “Wall Street of the West” and the gateway to San Francisco’s Financial District. The quartz-studded concrete tower has over 3,000 windows, rises 853 feet, and was designed by William L. Pereira & Associates, the famed firm that helped pioneer California’s distinctive modernism in the second half of the 20th century. It is currently the tallest pyramid structure on the planet.
The Transamerica Pyramid Center covers an entire city block and includes three buildings totaling approximately 750,000 square feet – the iconic pyramid-shaped tower, the office building at Two Transamerica, and a site set for approximately 100,000 square feet of office redevelopment at Three Transamerica. Anchoring the three buildings is Transamerica Redwood Park, an urban oasis featuring a grove of mature redwood trees shading public open space. Transamerica Pyramid Center reopened in September 2024 following a $1 billion dollar investment by SHVO and Deutsche Finance in partnership with Lord Norman Foster and his global design firm Foster + Partners.
SHVO and Deutsche Finance America acquired the building in 2020 for $650 million, representing the building’s first sale in its history and the United States’ largest commercial transaction to occur amidst the COVID-19 pandemic. www.transamericapyramidcenter.com
ABOUT SHVO
SHVO is a luxury real estate development and investment firm built on the vision of Chairman & CEO Michael Shvo to create culture-defining experiences in iconic properties. Headquartered in New York City with offices in Miami, San Francisco, Los Angeles, and Chicago, SHVO owns and operates a national portfolio valued at more than $8 billion and 4.5 million square feet across commercial office and retail space, hospitality, and luxury residential assets.
The firm’s selective portfolio of architecturally significant properties, from innovative ground up new developments to revitalized landmarks that define skylines in the world’s leading cities, includes the Transamerica Pyramid in San Francisco, The Raleigh Hotel in Miami Beach, 333 South Wabash Avenue in Chicago, Mandarin Oriental Residences Fifth Avenue in New York City, Mandarin Oriental Residences at 9200 Wilshire Boulevard in Beverly Hills and the AMAN New York Hotel and Residences at the Crown building.
Renowned for its expertise, SHVO is fully integrated with highly diversified industry experience in every aspect of acquisitions, finance, development, design, sales, leasing, property management, hospitality, and sustainability. www.SHVO.com
Media Contact:
shvo@berlinrosen.com
