San Francisco office asset may sell for $215m
Embarcadero Capital is said to be in talks to sell 301 Howard St. in San Francisco to Emmes & Co. The sales price is rumored to be approximately $215 million or $700 per square foot, according to Real Capital Analytics. Eastdil Secured represented the seller.
The CBD office is 23 stories high and its 84 percent occupied. Major tenants include Rearden Commerce, DemandBase, Skout, San Francisco Soup Co. and Togo’s.
The acquisition would be Emmes & Co.’s entry to the San Francisco office sector.
A few streets up, near Pier 7, the Golden Gateway Commons, located at 650 Davis St., is in a pending deal between Hong Kong–based Gaw Capital as the buyer and Arden Realty as the seller. The three-building complex is being sold for a rumored price of $180 million or $645 per square foot. Earlier this year, Gaw Capital, with its associate Downtown Properties, purchased the Hamm’s Building at 1550 Bryant St.
The San Francisc