SF Office Building Changes Hands for $350M

The recently completed trophy asset was acquired by American Realty Advisors.

Foundry Square III in San FranciscoFoundry Square III in San Francisco

San Francisco—American Realty Advisors has acquired Foundry Square III, a Class A trophy office asset located in the heart of San Francisco’s Transbay District, from a development joint venture between Tishman Speyer and institutional investors advised by J.P. Morgan Asset Management, for $350 million.

The building is currently 100 percent leased to an impressive roster of tenants, including IBM, NASDAQ, Perkins Coie, Neustar and Silicon Valley Bank.

“Acquiring a recently completed high-quality asset with long-term leases in-place to creditworthy tenants at First and Howard streets is the ultimate core investment,” Drew Hess, American Realty Advisors’ senior director, investment group, said in a prepared release. “We see San Francisco continuing to lead global innovation with this location as the epicenter.”…

SF Office Building Changes Hands for $350M

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