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November 29, 2020
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San Francisco Office Tower Set to Trade in $225 Mil Transaction


A 293k sf Office high-rise in San Francisco’s North Financial District is about to change hands in a deal that industry sources suggest will close at over $225 mil ($768/sf). The building is at 111 Sutter St, a block north of Market St and a few blocks in from The Embarcadero.

The buyer is NY-based Paramount Group Inc, an office REIT that focuses on Class A properties within the CBDs in New York City, Washington DC and San Francisco.

Originally constructed in 1927 as the Hunter-Dulin Building, the 22-story tower served as NBC’s West Coast headquarters from the time it was built through 1942. It is listed on the National Register of Historic Places. In 2001, the property underwent significant upgrades and is now LEED Silver-certified.

At present, the tower is about 80% leased, mostly to technology, media, nonprofit and other business-related tenants. There is also a 24-hour fitness center on the ground floor. Leasing is being handled by JLL.

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