The fire sale of office buildings with high vacancy and plunging values in downtown San Francisco keeps spreading, and its epicenter is a two-block stretch of California Street.

San Francisco-based Tidewater Capital and Goldman Sachs have listed 351 California Street for sale, tapping JLL to market the 16-story building. The partners paid $108M to acquire the 140K SF property in 2019, which translates into roughly $771 per SF.

An asking price has not been disclosed, but with 351 California currently 53% leased with a weighted average lease term of three years, the building is likely to be priced at the going rate in the neighborhood: the upper $200 per SF range, the San Francisco Business Times reported.