Transactions - NOVEMBER 5, 2014

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Two San Francisco office buildings sell for $522m

by Andrea Waitrovich

Two office buildings in San Francisco’s CBD are set to change hands for a total of $522 million. The city’s office market has been very active of late, and these deals continue the trend.

Bentall Kennedy is under contract to purchase the 362,000-square-foot San Francisco CBD office located at 600 California St. The sales price is approximately $215.1 million, or $593 per square foot. The seller is Clarion Partners, which bought the 20-story office in 2012 for $180 million.

The property at 600 California St. is located at the intersection of California and Kearny streets, set across the street from 555 California St. — formerly Bank of America Tower — and within a few blocks of the iconic Transamerica Pyramid.

Three blocks away, the 475,000-square-foot Embarcadero Center West is in a pending deal between Rockpoint Group, the buyer, and TIAA-CREF, the seller. The sales price is approximately $307 million. The 32-story office sold

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