Back in March we discussed the grand 26-story Pacific Telephone and Telegraph Building at 140 New Montgomery which has been undergoing a major renovation and retrofit, and which had potentially two new restaurant spaces off the ornate, Byzantine-meets-Art Deco lobby on the ground floor. We gather via the broker rumor mill that developer Wilson Meany Sullivan has almost secured two tenants, one for the smaller bar/caf space rumored to be the team behind Bar Agricole, though partner Thad Vogler says he can not confirm anything yet and one for the larger restaurant space.
The taker for the bigger space, who has apparently not yet signed the lease, is said to be a prominent local restaurateur or restaurant group, but that remains a totally blind item. Could it be Mr. Mina? The Bacchus folks? As soon as the deal gets inked, we should know more.
The 1925 skyscraper was designed by architect Timothy Pflueger and has been vacant for a number of years since being sold by AT Wilson Meany Sullivan bought the building in 2007, intending to convert it for condos. But following the financial crisis and the subsequent rise in office rents around town, they're only doing 118 luxury condo units, and using the rest of the building (280,000 square feet) for office use, with Yelp as a major tenant. They and other tenants will start moving in next year.