San Francisco-based equity fund Shorestein Properties is looking for investors who could pay one of the highest prices for an office complex in the history of San Francisco. The 1.1-million-square-foot office is rumored to be going for over $800 a square foot, or $800 million, to recapitalize the Mid-Market neighborhood property. Finding new investors would only add onto the success of Shorestein in transforming the former wholesale furniture mart into one of the most recognizable technology company headquarters in the world. A grocery store is located downstairs, and there are plans for a skybridge to be built to give employees easier access from building to building. The building was originally purchased from ADCO Group for $110 million in 2011. With office building rents increasing by 15 percent since 2013, investors are looking to get in.
Read the full article on the San Francisco Business Times here.
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