Strong Office Investment Sale Activity
The San Francisco investment market experienced strong activity during the second quarter of 2019 with nine buildings transacting for an aggregate investment volume of over $1.2 billion. The largest sale transaction of the second quarter was 123 Mission Street purchased for $397 million or $1,149 per square foot by Main Mission LLC. Another notable transaction was the sale of 945 Bryant Street, a Class B office building located in SOMA which closed for $41.95 million or $1,005 per square foot.
If the properties currently under contract and on the market close by year-end, the total 2019 total investment volume is expected to surpass $6 billion dollars – nearly double the investment volume seen in 2017 and 2018 which experienced $3.6 billion and $3.7 billion, respectively.
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