REPORT: Strada Investment Group Targeting Showplace Square Office
San Francisco’s Strada Investment Group is reportedly in negotiations to purchase a 133,400 SF building at 1 De Haro St. that could sell for as much as $110M.
Strada is in discussions to purchase the fully leased building that is home to fleet telematics solutions provider Samsara from its developer, SKS Partners, the San Francisco Business Times reported Tuesday, citing anonymous sources. A valuation of roughly $800 per SF would put the purchase price between $100M and $110M.
The largest San Francisco office deals recorded in the first quarter changed hands for less than half that per-square-foot price, CBRE said in its quarterly market report, the notable exception being the Transamerica Pyramid, which sold at $922 per SF.
Fully stabilized office properties are a rarity in post-pandemic San Francisco, which has an overall office vacancy rate of 30.4% despite record-high net absorption of 2.3M SF in Q1, according to CBRE.
The De Haro Street property in Showplace Square sits on a triangular slice of ground that once housed San Francisco Gravel Co. Architect Perkins & Will designed the four-story structure built by Hathaway Dinwiddie.
Samsara preleased all 86K SF of office space at the building in 2019 and took occupancy after construction was completed in 2021. Samsara has multiple years remaining on its lease, the SFBT reported. The building also includes about 43K SF of light industrial space.
NorthMarq in 2019 provided SKS Partners with $93M in construction-to-permanent financing for 1 De Haro St. that included a $56M senior loan and $36M in mezzanine funds. The senior loan matures this month, according to the SFBT, a primary reason SKS marketed the property for sale with Eastdil Secured.
Strada Investment Group owns multiple commercial real estate assets in the city. In 2024, Strada partnered with a public pension fund to acquire an 18-story, 255K SF office building at 201 Spear St. It delivered 501 residential units at 555 Bryant St. in 2025 and is developing a 3.4M SF mixed-use redevelopment project at Pier 70 on Potrero Point that could include as many as 2,150 new residential units.
