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TECO buys 345 Fourth St. in San Francisco - San Francisco Business Times

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In what can be considered a rare occurrence these days, a small office building in San Francisco's SoMa neighborhood has traded hands.

The Taipei Economic and Cultural Office is decamping from downtown San Francisco and moving into a new office building in SoMa it purchased last month.one of 13 representative offices for Taiwan in the U.S., serving consulate-like functions — spent nearly $53 million on the 56,000-square-foot property at 345 Fourth St. The price amounts to roughly $946 per square foot.

The organization plans to occupy the entire seven-story building. The space will house its consular, education, economic, tourism and immigration divisions, as well as theTECO currently occupies roughly 25,000 square feet across two floors at 555 Montgomery St., where it has been based for more than two decades, according to information provided by real estate firm Costar.

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