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San Francisco Commercial Real Estate

Sales Volume Lagged 2012 Figures

It seemed S.F. buildings were flying off the shelves last year, but according to JLL figures, sales volume was down 65% year over year, or $2.3B compared to $6.6B. Q4 alone, however, saw a whopping $1.3B in transactions, including KBS' $121M purchase of 201 Spear (KBS Western regional prez Rodney Richerson, above). In contrast to 2012, with large, core, and core-plus assets trading hands, 2013 saw smaller, and somewhat fewer, assets for sale. The average S.F. cap rate in Q4 was a fabulous 4.4%. The 2013 high watermark sale was 549 Bryant, at $642/SF.

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Related Topics: KBS Western, Rodney Richerson
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