San Francisco Chronicle
The twisty condo tower Mira has filled its retail space with five businesses, despite other store closures nearby and a plunge in office workers in the Transbay area near the Embarcadero.
In recent weeks, Looksie Optometry, Saint Frank Coffee and Mili Wine Bar have signed leases in the ground floor of the 400-foot tower. They join salad vendor Sweetgreen and wellness center StretchLab, which both opened last year.
Property owner Tishman Speyer credits the presence of thousands of new residents in the Transbay area for bolstering retail demand, especially for restaurants and businesses that provide services. That includes people living in Mira’s 392 condos, which are over 80% sold, amid a citywide rebound in the condo market.
“It’s a symbiotic relationship,” said Carl Shannon, senior managing director at Tishman Speyer. “We see Folsom Street as a retail service backbone of this immediate neighborhood.”
In one case, there’s direct overlap between the residential and retail real estate: A Mira condo resident founded Mili Wine Bar as a way of connecting with fellow residents.