You’ve probably walked past it. If you’ve spent any time in the Financial District, 555 Market St San Francisco is that looming, polished presence that feels like the center of the world, or at least the center of the city’s corporate ego. It’s one of those buildings that defines the skyline without even trying. Honestly, it’s a bit intimidating.
But there is a lot more to this glass and steel giant than just "another office building." People call it the Market Center. Some still think of it as the old Standard Oil building. To the modern tech worker, it’s basically just "the Salesforce building that isn't the Tower."
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Buildings in San Francisco have a weird way of becoming characters in their own right. They witness the booms. They survive the busts. 555 Market St is no different.
The Architecture of Power and Why It Looks That Way
Back in the 1960s, architecture wasn't about "vibes." It was about power. When you look at 555 Market St San Francisco, you're seeing the work of Hertzka & Knowles. They were the big names. They partnered with Skidmore, Owings & Merrill (SOM) to bring this thing to life. It was completed around 1964. Think about that for a second. This was the era of Mad Men, heavy smoke in boardrooms, and the massive expansion of American oil.
It’s a classic International Style skyscraper. It doesn't have the curvy, futuristic flair of the newer Salesforce Tower nearby. It’s boxy. It’s stoic. It’s 38 stories of "we mean business." The granite. The dark glass. It was designed to tell the world that Standard Oil of California (now Chevron) was the king of the hill.
There's something kinda refreshing about its simplicity today. While every new building tries to be a "statement piece" with weird angles and LED lights, 555 Market stays in its lane. It’s a monolith. It feels permanent. In a city that changes every five minutes, there's value in that.
Who is actually inside 555 Market St San Francisco?
The tenant list is a revolving door of high finance and big tech. For the longest time, Chevron was the soul of the place. They stayed until the early 2000s before shifting operations elsewhere. That move marked a massive shift for the neighborhood. It went from "Big Oil" to "Big Tech" almost overnight.
Then came Salesforce.
You can't talk about 555 Market St San Francisco without talking about Marc Benioff’s empire. Salesforce occupies a massive chunk of the Market Center complex. It’s part of their urban campus strategy. Instead of building one giant suburban fortress like Apple or Google, they bought up or leased half of downtown San Francisco.
- Salesforce is the anchor. They use the space for everything from engineering to marketing.
- Uber had a major presence here before their big move to Mission Bay.
- Regus provides the flex space for the startups that haven't "made it" yet but want the prestigious zip code.
Walking into the lobby feels like entering a cathedral of productivity. Or at least, it used to. Post-2020, the energy changed. You've probably heard the "doom loop" narrative regarding San Francisco's commercial real estate. While it’s true that foot traffic is different, 555 Market isn't a ghost town. It’s just... quieter. The people there now are the ones who actually want to be in the office.
The Plaza and the Public Space
One thing people get wrong is thinking the building is off-limits. The plaza between 555 and its sibling, 575 Market, is actually one of the better "Privately Owned Public Open Spaces" (POPOS) in the city.
It’s got these weird, Brutalist-style fountains and plenty of seating. On a sunny day at 12:15 PM, it’s a chaotic symphony of salad bowls and AirPods. You see interns looking stressed and VCs looking like they’re trying too hard to look casual. It’s peak SF.
The Real Estate Drama: Ownership and Value
The money behind these walls is staggering. In 2004, Shorenstein Properties bought the complex for something like $350 million. They flipped it a few years later for over $900 million. That is a massive jump. It shows just how much the Financial District exploded in value during the tech gold rush.
Currently, it’s managed and owned by giants like Blackstone and Paramount Group. But here’s the kicker: the valuation of buildings like 555 Market St San Francisco is currently a huge question mark. With remote work being the new normal, these towers are fighting for relevance.
Is it still worth a billion dollars? Probably not right now. But is it going anywhere? No way.
The city is trying to pivot. There’s talk about converting some of these towers into housing, but let’s be real—555 Market isn't a great candidate for that. The floor plates are too big. The plumbing would be a nightmare to reroute for 400 apartments. This building was born to be an office, and it will likely die as an office.
What it’s like to work there (The Unfiltered Version)
I’ve talked to folks who spend 50 hours a week inside these walls. The elevators are fast—like, "pop your ears" fast. The views from the upper floors are legitimately insane. You can see the Bay Bridge, the Ferry Building, and the fog rolling over Twin Peaks.
But the "tech-ification" of the interior is real. It’s gone from wood-paneled walls to open-plan layouts with artisanal coffee stations.
- The Commute: It’s a dream if you take BART or MUNI. Montgomery Street Station is literally right there.
- The Food: You’re in the heart of it. From the high-end sushi at PABU to the quick-and-dirty Chipotle, you won't starve.
- The Vibe: It feels corporate. Even with the tech tenants, you can't escape the feeling that this is where "Real Business" happens. It’s not a startup garage in Palo Alto. It’s a skyscraper.
There's a specific smell to the lobby of 555 Market. It's a mix of expensive floor wax, filtered air, and expensive perfume. It smells like ambition.
The Future of 555 Market St and the Financial District
San Francisco is at a crossroads. Everyone knows it.
The "flight to quality" is a term real estate nerds love to use. It basically means that when the economy gets shaky, companies move out of the crappy buildings and try to get deals in the nice ones. 555 Market St San Francisco is definitely a "nice one." It’s Class A office space.
While smaller buildings nearby might struggle or sit empty, 555 stays occupied because it has the infrastructure. It has the security. It has the "name."
Expect to see more "flexible" arrangements. We're moving away from 10-year leases where a company takes over five floors and never leaves. Now, it’s about agility. You’ll see more coworking setups and satellite offices for companies that are based in the East Bay or South Bay but need a "presence" in the city.
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How to actually utilize the space if you’re a local
You don't need to be a VP at Salesforce to experience 555 Market. Here’s how you actually "use" this part of the city:
- The POPOS: Use the plaza for a meeting. If you’re a freelancer, it’s a great spot to sit with a laptop for an hour to get out of your apartment.
- Networking: The lobby and the surrounding coffee shops are the unofficial headquarters of the SF tech scene. If you're looking for a job or a co-founder, this is the hunting ground.
- Architecture Tours: If you’re into mid-century modern design, the exterior of 555 is a textbook example. Bring a camera.
Actionable Steps for Professionals and Investors
If you are looking at 555 Market St San Francisco from a business perspective, don't just look at the vacancy rates. Look at the surrounding infrastructure. The proximity to the Transbay Transit Center and the Salesforce Park (which is just a block away) makes this specific block of Market Street incredibly resilient.
If you're a business owner considering a lease, now is actually the time to negotiate. The leverage has shifted. You can get into a "trophy building" like this for prices that would have been laughed at in 2018.
For the average visitor, just take a moment to look up. In a city of hills and Victorian houses, these steel giants are the anchors. 555 Market St isn't just a workplace; it’s a monument to the city's ability to constantly reinvent itself.
When you're ready to explore further, walk one block over to the Salesforce Park. It’s a public park suspended 70 feet in the air, and it offers the best perspective of how 555 Market fits into the modern "New San Francisco" skyline. You can see the contrast between the 1960s stoicism of the Market Center and the glass curves of the 2020s. It’s the best free history lesson in the city.