Largest Office Sale Since 2017 Ripples Through City
215 Fremont, the 427,393-square-foot class-A office building, sold last week to Clarion Partners for $335.5 million, the largest real estate sale since 2017.
SAN FRANCISCO—215 Fremont, the 427,393-square-foot class-A office building, sold last week for $335.5 million, the largest real estate sale in two years. Clarion Partners is the purchaser.
In 2009, Charles Schwab merged employees into the building and its headquarters at 211 Main St. Nearly two years ago, Fitbit subleased most but not all of the building at 311,166 square feet on the second through eighth floors, according to the lease contract.
The property offers rooftop decks and terraces with greenery and view space on multiple sides of the upper floors. 215 Fremont was honored with the 2003 Excellence in Engineering Award for the best use of conventional technologies in a building retrofit by the Structural Engineers Association of California.
The building is located in the Yerba Buena neighborhood. In 1928, the same year 215 Fremont was built, five other commercial properties (office, industrial, retail) of more than 50,000 square feet were built in San Francisco.
Clarion would not further comment publicly on the specifics of the recent transaction.