University of the Pacific has purchased a former Wells Fargo office building to establish a new San Francisco campus in the city's downtown South of Market district. The building, which will house the Arthur A. Dugoni School of Dentistry, will undergo an extensive renovation and is expected to open in mid-2014.
The university closed a $47 million deal with CDC/TMG 155 Fifth Street Associates, to purchase 155 Fifth Street, a seven-story building with approximately 395,000 sq ft of space. Five floors of the building will house the School of Dentistry, as well as classroom space for other future university programs. The remaining two floors will be leased as office space.
The new building will contain labs, classrooms, research, and support space for the dental school, as well as clinical changes and technology enhancements to support patient care. The location offers close proximity to public transportation, including a nearby Bay Area Rapid Transit (BART) station for students, faculty, staff, patients, and visitors.
The building will undergo a comprehensive renovation, including a complete replacement of the building's exteriors and interior spaces, which is expected to take approximately two years.
University representatives and San Francisco Mayor Edwin M. Lee welcomed the university's increased profile downtown. The school of dentistry has been in San Francisco since 1896.
Total cost of the building purchase and renovation is expected to be $151 million. The university will fund the cost through an upcoming fundraising campaign, revenue from commercial leases, and the sale of two properties currently used by the dental school in San Francisco's Pacific Heights neighborhood.
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