San Francisco–based Union Bank is planning a sale-leaseback transaction for its 297,642-square-foot office building in San Francisco located at 350 California St., reported The Registry. The pricing guidance on the sale of the property will be $250 million.
The potential sale comes amid a slowdown in San Francisco’s office market as a result of the ongoing COVID-19 pandemic. The San Francisco office market saw net occupancy losses of 1.4 million square feet in the second quarter, attributed to a new influx of sublease vacancies added to the market by the aforementioned industries and previously scheduled tenant moveouts, rep
