Canadian investor to purchase SF office for $250m

Toronto-based Brookfield Asset Management has plans to purchase the 488,000-square-foot 1 Post St. office building in San Francisco, according to media outlets. An official announcement has not been released.

The seller is healthcare services and information technology company McKesson Corp., and the building serves as McKesson’s headquarters. The company plans to stay in the building as it consolidates San Francisco office space and expands to Texas.

JLL started marketing the office in August 2016.

Located at the corner of Post and Market streets adjacent to the Montgomery BART station in the city’s financial district, the 38-story office building was completed in 1969. McKesson had a 50 percent stake in the property when it was built and acquired the remaining 50 percent in 2012. It paid $90 million for the stake in 2012.

The San Francisco investment market continued to reign as one of the strongest markets in the country in 2016, according to Colli