Strada Closes On Acquisition Of Samsara's Showplace Square HQ
Strada Investment Group completed its acquisition of 1 De Haro St., a fully leased 133K SF property in Showplace Square that is home to artificial intelligence company Samsara.
Strada paid $103M, or $771 per SF, for 1 De Haro, the San Francisco Business Times reported. Strada began negotiations for the property in April after developer SKS Partners listed it for sale in February.
Samsara preleased the entirety of the building’s 86K SF of office space for its global headquarters. The building also has 43K SF of light industrial space.
The Showplace Square property is the first multistory, fully mass timber and cross-laminated timber building constructed in San Francisco, according to project architect Perkins&Will. Hathaway Dinwiddie broke ground on the four-story, 60-foot-tall building in 2019 and completed it in 2021.
Northmarq arranged $93M in construction financing for SKS Partners through a life insurance company, which included a $56M senior loan and $37M in mezzanine debt.
Office properties with high vacancy have been changing hands for much less during Q1 2026.
Madison Capital in February purchased a 692K SF, 34-story office tower at 45 Fremont St. for $237.6M, or $343 per SF. In March, Madison and Prudential purchased a 362K SF tower at 123 Mission St. for $100M, or $276 per SF. Also in March, Meridian Group acquired a 25-story, 649K SF building at 415 Natoma St. for $393M, or $605 per SF, Avison Young reported.
UBS Realty Investors is currently seeking about $400 per SF for its recently relisted 23-story office tower at 455 Market St. The 347K SF property is about 70% leased. In 2022, UBS targeted a sale price of about $750 per SF for the property.
The highest price achieved per square foot recorded in 2026 is Yoda PLC’s acquisition of the 763K SF Transamerica Pyramid at 600 Montgomery St. for $600M, or $786 per SF.
