Strada is set to purchase the 18-story office tower at 201 Spear Street in San Francisco’s Financial District. The reported price is just 57% of what KBS Realty Advisors paid for in 2013. The price per square foot puts the deal within the existing range of sales in the region’s struggling post-pandemic office market.
Images from a YIMBY reader show most of the first building’s steel framework has been erected at Southline, a massive life sciences development in South San Francisco, San Mateo County. The new purpose-built laboratory is the first of eleven structures that will occupy the 28.5-acre master plan. The first phase of construction has seen Beacon Capital Partners join Lane Partners and Goldman Sachs in the ownership group.
Goldman Sachs Asset Management and Lane Partners have announced the completion of a recapitalization for the first phase of Southline in South San Francisco, San Mateo County. Southline is the master plan for 28.5-acre development across from the San Bruno BART Station with 2.8 million square feet of life sciences and offices couched with acres of landscaping and a new public park. Construction has already started for the first of two buildings in phase one.