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July 18, 2019
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NORTHERN CALIFORNIA NEWS
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San Francisco Office Building Sells for $335 Mil

2/07/19

Clarion Partners, out of New York, has acquired a 374k sf office building in San Francisco for $335.5 mil, or $897/sf. The eight-story building, located at 215 Fremont St, was sold by Jack Resnick & Sons, which bought the asset in 2006 as part of a five-property, $300 mil acquisition from American Financial Realty Trust.

This latest deal represents the largest office building sale in San Francisco since the 689k sf tower at 44 Montgomery St sold in April 2017 for about $475 mil, according to CoStar.

The building had previously been occupied by Charles Schwab, who relocated employees into the property in 2009, but ended up subleasing 312k sf of that space in 2016 to Fitbit. According to industry sources, nearly half of the building may end up being taken by Google, who is looking for additional space in the city.


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