New retail center to be developed in prime San Francisco district

Dallas -- The Carlyle Group and Cypress Equities announced plans to develop a 250,000-sq.-ft., multi-level retail center on Market Street in the popular shopping district of San Francisco.



The one-acre site, formerly known as CityPlace, will be rebranded Market Street Place. The project is fully entitled, groundbreaking is slated for the fall of 2012 and the grand opening is scheduled for the first quarter of 2015.



The six-level urban redevelopment project will feature an exterior facade of translucent glass, up to 270 ft. of frontage, as well as ceiling heights up to 18 ft. and large floor plates of up to 45,000 sq. ft.



Cypress will develop the project and Carlyle is the lead equity partner. SRS Real Estate Partners will serve as the retail leasing representative for Market Street Place.