San Francisco office tower sells for $312m
Transactions - APRIL 3, 2017

San Francisco office tower sells for $312m

by Andrea Waitrovich

The Blackstone Group has purchased the office building at 211 Main St. in San Francisco for $312.9 million, according to other media outlets. An official statement has not been released.

The asset is an 18-story class A office. The building is located in the South Financial District of San Francisco, blocks from the developing Transbay Terminal.

CIM Group bought the building in 2009 for $113.3 million.

Office property sales in San Francisco during 2016 totaled more than $5.3 billion, according CBRE. But the city slipped to third in Marcus & Millichap’s 2017 National Office Property Index and fell to second place behind Austin as the top tech city, according to Savills.

This year’s San Francisco office transaction thus far include:

Ohio STRS to sell SF office for $473m

Principal sells SF office tower for $185m

Canadian investor to purchase SF office for $250m

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