SAN FRANCISCO-50 Beale St., a distinctive, class-A office tower in the South Financial District, is off the block since a joint venture between the Rockefeller Group and Mitsubishi Estate New York has closed on the acquisition. While the parties involved declined to reveal the sale price to, industry sources unrelated to the deal say it was rumored to sell for $300 million and that the seller was a joint venture between Fortress Investment Group and Lehman Brothers Holdings Inc. The seller was advised by Eastdil Secured.

The property, completed in 1968, is 662,060 square feet and has undergone extensive renovations as recently as this year. The LEED-EB-certified building is approximately 90% occupied by major corporations including Bechtel and Blue Shield of California. It was designed by Skidmore Owings & Merrill LLP and built as the headquarters for Bechtel.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.