KG Growth Partners weighs data center conversion at shuttered San Francisco Centre

KG Growth Partners, a Maryland financial advisory firm, has approached San Francisco about buying part of the shuttered San Francisco Centre for a data center conversion. The firm is working with an unidentified potential buyer on 845 Market St., the 350,000-square-foot former Bloomingdale's space, the San Francisco Chronicle reported Monday, as relayed by Connect CRE.

No application for permits has been filed with the city, the Chronicle reported, so the inquiries do not yet amount to a development proposal. The potential buyer has not been identified, and no acquisition has been announced. Jared Krieger, KG's chief executive, told the Chronicle the firm does not comment on "live transactions."

Krieger described a conversion that keeps the ground floor and public-facing levels active, with the technical use in upper floors and back-of-house space. He told the Chronicle the firm's projects do not involve building "a conventional suburban server farm."

"Downtown San Francisco has a vacancy problem in exactly this building type, and the premise is that reuse with a mixed public and technical program does more for the block than a dark box does," Krieger said, according to the Chronicle.