UBS Relists 455 Market St. As Bay Area Office Trades Pick Up Steam
about 10 hours ago
UBS Realty Investors is relisting its 23-story office tower at 455 Market St. in San Francisco's Financial District for sale, seeking around $400 per square foot, valuing the property at approximately $130M to $139M. The building, completed in 1987 and about 70% occupied, was previously listed in 2022 at a much higher price. Despite strong net absorption in San Francisco's office market, vacancy rates remain above 30%, keeping office values below pre-pandemic levels. Institutional investors are actively purchasing Class-A office properties in the city, highlighted by significant recent transactions such as the sale of the Transamerica Pyramid.