Built in 1916 and expanded in 1983, 55 Francisco is 95% leasedto19 tenants, including the headquarters office of Jackson &Wallace, an 80-attorney law firm; Pacific Fertility Clinic;Fitzgerald Communications; and Video Arts. KBS did not name theseller or say for what fund or client it acquired the asset.

The seller is believed to be a joint venture of Rosenberg Co.,the investment affiliate of ROK Properties, and Pacific CoastCapital Partners, a real estate investment firm. The duo acquiredthe asset and the parking garage in mid-2006 for $32 million or$222.70 per sf, according to an industry source. At the time, itwas fully leased to 27 tenants, which included Jackson &Wallace and FitzGerald Communications.

A source with KBS could not be reached Tuesday for comment. KBSsenior vice president Peter Mette says in a prepared statement thatthe property has the right attributes: a highly visible location,exceptional occupancy history, attractive parking ratio andextensive renovations, the most recent being an $8 million upgradein 1999.