The Public Policy Institute of California has purchased a SanFrancisco office building for more than $30 million. The buildingwas previously owned by Los Angeles-based commercial investorShuwa.
Chief Executive Officer David Lyons says, "The purchase of 500Washington is a tangible symbol of our involvement in civic life inthe Bay Area.''
The nonprofit group, which provides research and study programson issues relating to the economy, population, government andpublic finance, signed purchase papers this week for the buildinglocated at 500 Washington Street. The institute occupies three ofthe eight floors in the 100,000-sf building, which was built in1982.
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