When it came to investment sales, recent years haven't lived up to expectations for owners trying to sell office buildings in San Francisco. Several pulled their listings from the market after receiving disappointing offers.
Several owners who balked at last year's bids are testing the market again — this time, with deeply discounted listings. When 350 California was first shopped around in mid-2020, the 22-story, 300,000-square-foot Class A tower was expected to fetch in the ballpark of building’s lobby had just been completed, the latest in a total $41.2 million capital investment since 2016. Union Bank even announced plans to lease back a portion of its space.
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