This week’s article is good news!
According to Mr. Dineen from San Fran Biz Times, “San Francisco’s investment market for downtown office buildings and development sites could smash records as investors clamor to grab a slice of the hottest commercial real estate market in the country”.
We already knew the area was good, but just how good?
- Tishman Speyer’s 555 Mission St. is reportedly attracting offers north of $800 a square foot
- Development sites on that same block are predicted by analysts to top $2.2 billion in sales
- $1.2 billion worth of buildings have already been sold or are under contract in 2012
- Another $1 billion is rumored to be coming to market
- San Francisco could be looking at $4.4 billion in downtown property changing hands this year
“If the total hits $4.4 billion, it would make 2012 the biggest year for investment sales in the city’s history”
For more, read here!