Just a few weeks after Gap Inc. let it be known that it wanted to sell the headquarters building of its Athleta brand in San Francisco, Sobrato Organization has agreed to purchase the 171K SF property for close to $80M.
The Mountain View-based developer is paying slightly less than twice as much the $45M Gap paid for the office campus, which is in proximity to San Francisco's famous Embarcadero. The deal translates into roughly $467 per SF.
In January, Gap filed an exploratory letter with the city regarding other potential uses for the office building located at 1 Harrison Street, according to the San Francisco Business Times.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
