{"id":1004512381,"date":"2021-03-04T06:18:05","date_gmt":"2021-03-04T14:18:05","guid":{"rendered":"http:\/\/internal.cpexecutive.com\/?p=1004512381"},"modified":"2021-05-15T10:11:45","modified_gmt":"2021-05-15T18:11:45","slug":"san-francisco-market-update-all-office-sales-due-east-bay","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-all-office-sales-due-east-bay\/","title":{"rendered":"San Francisco Market Update: All Office Sales Due East (Bay)"},"content":{"rendered":"

\"StandardThe San Francisco Bay Area\u2019s office transaction volume in January was $163.2 million. All of January\u2019s transactions occurred outside San Francisco city limits, with investments concentrated in the North and East Bay. Five properties totaling 825,516 square feet of office space sold at an average per-square-foot price of $176. <\/p>\n

Total sales saw an 83.5 percent decline compared to the $988 million in deals recorded during the same period last year. At that time, sales prices averaged a much higher $786 per square foot, propped up by a stronger office-using economy and a high concentration of Class A deals.<\/p>\n

\n

READ ALSO:  <\/strong>Tech Workers\u2019 Exodus Pressures San Francisco\u2019s Economy<\/a><\/p>\n

\n

Class B properties comprised 94.5 percent of investment volume. In one of the most notable deals, Bay West Development acquired three properties totaling 710,330 square feet in northern Marin County for $28 million. The buildings at 773, 775 and 777 San Marin Drive in Novato were previously home to Fireman\u2019s Fund. The insurance company moved to Petaluma in 2015, and the campus remained largely vacant until Wells Fargo Bank foreclosed on a $190 million mortgage in 2019.<\/p>\n

CommercialEdge covers 8M+ property records in the United States. View the latest CommercialEdge national monthly office report here<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

CommercialEdge data shows sales volume fell more than 80 percent compared to January 2020 as investors shifted focus toward the North and East Bay.<\/p>\n","protected":false},"author":861,"featured_media":1004529629,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21747,1609,15],"tags":[51047,50674],"class_list":["post-1004512381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-office","category-san-francisco","category-west","tag-marketupdate","tag-commercialedge"],"acf":[],"yoast_head":"\nSan Francisco Market Update: All Office Sales Due East (Bay) - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-all-office-sales-due-east-bay\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"San Francisco Market Update: All Office Sales Due East (Bay)\" \/>\n<meta property=\"og:description\" content=\"CommercialEdge data shows sales volume fell more than 80 percent compared to January 2020 as investors shifted focus toward the North and East Bay.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-all-office-sales-due-east-bay\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-04T14:18:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T18:11:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Market-Update-800x620-300x233-15.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"233\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jeff Hamann\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-all-office-sales-due-east-bay\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/san-francisco-market-update-all-office-sales-due-east-bay\/\",\"name\":\"San Francisco Market Update: All Office Sales Due East (Bay) - 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