Investment market stays strong in the City by the Bay
The San Francisco investment market continues to reign as one of the strongest markets in the country, according to Colliers International. Investment sales volume continued at a solid pace during the fourth quarter, with 13 office sales closing for a combined value of more than $1.5 billion. In 2016, the market experienced more investments than in 2015, with 38 office transactions closing during the year, and full-year office sales volume was 24 percent higher at $4.6 billion.
The $69.8 billion State Teachers Retirement System of Ohio plans to sell a San Francisco office building for $473 million, according to news sources. Beacon Capital Partners is reportedly the buyer of the office property. The 43-story, class A office building is located at 44 Montgomery St. in San Francisco’s Financial District. The property had been placed on the market in January, according to news sources. Ohio STRS acquired the property in 1997 for $111 million and is currently a tenant in the bu