Bisnow Scoop: 650 Cal's New Owner Is...

Tishman is selling its newly renovated trophy property to Columbia Property Trust, sources tell us. (We thought the only people who sold trophies were cash-strapped former football players.)

Our sources tell us the likely sales price for the 33-story Financial District office tower is $675/SF but it could actually be as low as $625/SF. Last year Tishman spruced up the 1960s-era building with a big lobby makeover, clearly prepping the property for sale. In Q1, rent jumped more than 5% over the year to $59.23 (tenants include Credit Suisse and Littler Mendelson). Eastdil marketed the 585k SF building. Tishman didn't respond to a request for comment. Columbia already made a big move nearby this year, scooping up 221 Main for $228M in April.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's San Francisco Newsletters
Related Stories

Why Top-Secret Facilities Are Permeating Greater D.C.'s Office Market

With Occupancy Brimming, Investors Pile Into Bay Area Apartments

DivcoWest Sells Glendale Office Building For $70M

Stanford Pursuing $100M Fund For A 2M SF Expansion

Hines And Rialto Close Office Credit Fund At $1.1B

Rig Collapse At Citadel HQ Site Sends 4 To Hospital

Northern Virginia Office Tower Sells For Double Its 2024 Price

Oxford Properties' U.S. Investment Head On Why It's Buying Office Again — And Where

Fertility Provider Opens Clinic At 1900 Lawrence Office Tower: The Denver Deal Sheet

Office Revenues Are Failing To Keep Pace With Expenses

Security Tech Firm Plans Loudoun HQ Move: The D.C. Deal Sheet

Stephen Ross Expands Palm Beach Empire With Massive Boca Raton Campus