The Bay Club Co., San Francisco, is reviewing a proposal from developers who want to replace the company's San Francisco Tennis Club with a multi-use office complex that would include a fitness center and a smaller tennis offering.
The plan, filed with the San Francisco City Planning Department on Sept. 15, calls for the 24-court San Francisco Tennis Club to be replaced with a 377,000-square-foot, five-story office complex on the 114,048-square-foot lot in the South of Market neighborhood (SoMa) at 645 5th Street. The new development would include a 25,000-square-foot publicly accessible fitness center, four exterior tennis courts (27,398 square feet), 6,500 square feet of retail space on the first floor and underground parking.
The plan from San Francisco real estate developer TMG Partners and Alexandria Real Estate Equities, Pasadena, California, is one of several that the company has received from developers, according to a public relations representative for The Bay Club Co. Alexandria's purchase of the Tennis Club property was rumored in June by the San Francisco Business Times and The Registry.
The existing Tennis Club, which was built in 1974, has 12 indoor and 12 rooftop tennis courts and a club level with a gym and café. The proposal would have The Bay Club operate the fitness and tennis areas of the proposed development, according to a San Francisco Chronicle report.
Some members have stated opposition to the plan, according to the Chronicle story. Members also opposed a plan in 2007 to build a condominium tower on the site, and the project was eventually dropped.
The Tennis Club is one of four clubs in the Bay Club's San Francisco Campus. The Bay Club is exploring locations for a new tennis club, including the Palace of Fine Arts and land owned by the Port of San Francisco, according to the Chronicle report.
Alexandria is a real estate investment trust focused on collaborative science and technology campuses in urban areas. Alexandria's campuses have a total market capitalization of $10.7 billion as of June 30, 2015, and an asset base of 31.1 million square feet, according to its website.
In April, Alexandria purchased a land parcel at 505 Brannan Street in SoMa for $34 million, and Pinterest signed a lease for the entire 150,000-square-foot development in August. That project was a joint venture with TMG Partners. Alexandria's tenants in San Francisco included Amgen Inc., Celgene Corp., Google, Stanford and the University of California, San Francisco.
TMG Partners's portfolio includes 23 million square feet with a value of $3.5 billion, according to its website. It has worked in the SoMa district for 25 years with 18 projects totaling 5.5 million square feet of office, retail and housing, according to its website.
(Editor's Note: An earlier version of this story misstated that The Bay Club Co. was seeking demolition of this club.)
Redevelopment Plan For San Francisco Tennis Club