24-04-2025
- Business
- San Francisco Chronicle
Wharton School of Business considering a relocation of its S.F. campus
The Wharton School of Business is contemplating trading in its views of the San Francisco waterfront for a new, standalone campus in the city's Financial District.
Multiple real estate market participants have confirmed to the Chronicle that Wharton, which is the University of Pennsylvania's business school, has 'outgrown' the 35,000 square feet it leases at 2 Harrison St. that have served as its West Coast campus for more than a decade. Also known as Hills Plaza, the massive, two-building office complex spans a whole city block along the Embarcadero and is anchored by Google, which recently grew its footprint at the property.
The sources said that Wharton faces an expiring lease next fall and has been on the hunt for a larger space downtown. It is now closing in on a five-story modernist building at 345 Montgomery St. that's known as 'the Cube.' The deal is not final, but negotiations are reportedly progressing.
A spokesperson for Wharton neither confirmed nor denied plans to relocate the university's campus when contacted for comment, and also declined to comment on a potential deal involving the Cube.
'Wharton has operated a campus in San Francisco for more than two decades, allowing us to educate thousands of students and engage countless alumni and industry supporters,' the spokesperson told the Chronicle in a statement. 'The Bay Area's innovative ecosystem is of immense benefit to Wharton and serves as an invaluable platform for our impact in the region and beyond.'
But, the spokesperson added: 'We are continually looking for ways to increase our reach and access in the city.'
The Cube totals about 80,000 square feet, which includes two basement levels and an atrium. Whether Wharton would lease the entire building is not confirmed, though real estate insiders have described Wharton's potential relocation to the building, which sits on the corner of Montgomery and California streets, as an expansion.
The Institute of Contemporary Art San Francisco, or ICA SF, moved into the Cube last year, taking up roughly 26,000-square-feet of the building's ground floor and basement level, free of charge. The building's owner, New York-based Vornado Realty Trust, offered the nonprofit museum, which is a newcomer to San Francisco's art scene and does not charge admission, a free two year lease agreement in an effort to activate the Cube's groundfloor and lure office tenants to the larger 555 California St. office complex, which the Cube is a part of.
Also known as the Bank of America Tower, the 555 California skyscraper stands 52 stories tall. Along with the Cube and another 16-story building at 315 Montgomery, the complex consists of 1.8 million square feet of office space and is co-owned by New York-based Vornado Realty Trust and the Trump Organization, which owns a 30% stake in the property. Likely a coincidence, President Donald Trump is a Wharton alumni.
Edward Riguiardi, Vornado's New York-based vice president of leasing, neither confirmed nor denied whether Wharton is engaged in lease negotiations with the Cube, but did describe the art museum as 'temporary installation.' He said that ownership is 'marketing the building for long term users.'
Wharton has had a presence in San Francisco for nearly 25 years, and has been located at 2 Harrison for the past 14 years. During that time, it has offered an MBA program for Executives to cohorts of up to 220 students.
But, starting this fall, Wharton will begin offering an AI for Business MBA major to all of its full-time MBA students, including those participating in the university's Semester in San Francisco program. The AI major will also become available to all Executive MBA students next fall.
