Historic Hibernia Bank In Mid-Market Completes Historic Property Renovations

Dolmen Property Group Readies Building for Leasing

11 Dec, 2015, 10:01 ET from Dolmen Property Group

SAN FRANCISCO, Dec. 11, 2015 /PRNewswire/ -- Dolmen Property Group, a San Francisco-based real estate developer, has completed renovations at The Hibernia Bank, a nationally recognized historical landmark and one of the City's most celebrated architectural gems.

Constructed in 1892, The Hibernia Bank building at One Jones Street was abandoned and had not been an operating property since 1985, standing vacant for 30 years --except when the San Francisco Police Department (SFPD) occupied the basement of the building from 1991-2000 as a general neighborhood facility before moving to its new headquarters -- until acquired by Dolmen in 2008. The now-complete renovation includes a total seismic overhaul and preservation of the historic attributes of the previously dilapidated building.

"Because The Hibernia Bank required a full seismic retrofit to avoid damage to the ornate plaster interior and exterior granite, we utilized a unique engineering procedure involving the surgical core drilling of the walls – vertically, from the roof to the foundation – leaving the building interior and exterior virtually untouched," said Seamus Naughten, of Dolmen Property Group, "The end result is a preserved Albert Pissis masterpiece, waiting on an office, retail or event space tenant to complete our adaptive re-use journey"

Originally designed in 1892 by the innovative architect Albert Pissis, The Hibernia Bank is known for its exquisite architecture and rich history. Situated at the intersection of Jones, McAllister and Market Streets, The Hibernia Bank occupies 40,600 square feet in the middle of the Mid-Market tech hub that is home to tech leaders including Twitter, Uber, and Square.

"It's exciting to be able to offer The Hibernia Bank, a nationally recognized historical landmark and one of San Francisco's most celebrated architectural gems, for lease," said John Jensen, senior vice President at Colliers and lead leasing agent for the property. "This extraordinary building enjoys expansive space in the heart of the Mid-Market neighborhood.  Today, this impressive historic building offers leased space that merges its original grandeur with modern touches."

The property can accommodate office, retail, event, restaurant or other creative space over three floors, plus mezzanine and penthouse areas.

Listed as San Francisco Historic Landmark #130, The Hibernia Bank is one of the few structures that continue to serve as a visible anchor for the City's storied Mid-Market neighborhood. Its historical features speak to the buildings unique Neoclassical Revival-style, including its grand corner entrance, giant exterior colonnade and famed domed entryway. The Hibernia Bank Building was one of the few buildings in the area to survive the 1906 Earthquake and Fire, owing to its "fireproof" granite construction, although the interior did suffer significant fire damage.

Notably, the lore of The Hibernia Bank includes its founding in 1859 as The Hibernia Savings and Loan Society. It was acquired by Security Pacific in 1988. Security Pacific Bank was acquired by Bank of America in 1992. In 1974, a branch of this bank was robbed by the Symbionese Liberation Army and Patty Hearst.

About Dolmen Property Group
Founded in 2008, Dolmen Property Group, San Francisco-based real estate developer and equity partner that reimagines challenging properties. Specializing in complex, high-potential properties situated in urban neighborhoods, Dolmen preserves existing structures that are economical and transforms them into beautiful, functional real estate. Dolmen's diverse development team continuously seek new projects or partners from single family homes to larger projects. For more information, please visit www.dolmenpropertygroup.com  

Fact sheet available upon request.

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SOURCE Dolmen Property Group



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