SAN FRANCISCO—Legacy Partners of Foster City, CA, has placed a 295,000 square foot San Francisco office building on the market, according to a local business media source.
The property, 160 Spear Street, might bring more than $180 million, according to a report on the website The Registry. The investment firm has hired Eastdil Secured in its San Francisco office to be the listing agent on the sale, the site says. The asset is expected to sell for be somewhere in the range of $625 to $650 per square foot or in excess of $184.3 million, the report said.
Until late last year, Legacy held the property on a ground lease arrangement, but in December, the real estate company bought the land as well.
Legacy Partners acquired the property in December of 2006 for $86 million or 290 per square foot from San Francisco-based Ellis Partners.
The property was built in 1984., and its current occupancy is said to be better than 90%.
160 Spear is located in the South Financial District sub market in San Francisco.
Click Registry to read the full story.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
