An office property in San Francisco’s South Financial District that’s home to software firm Docusign Inc. is hitting the market with one of the highest asking prices seen locally since the pandemic, the San Francisco Business Times reported. The 383,000-square-foot 221 Main St., owned by Pimco Prime Real Estate and managed by Columbia Property Trust, has pricing guidance of around $250 million, sources told the Business Times.
The property is nearly 100% full after Docusign’s recent recommitment and expansion in the building and a round of new leases, the Business Times reported. Docusign grew its presence last fall by nearly half and now occupies approximately 140,000 square feet at the property.
The target sale price works out to roughly $650 per square foot. If realized, that price would be on the higher end of investment sales in San Francisco in recent years, underscoring the growing confidence in the city’s office market.
Pictured: 221 Main St. Docusign recently rebranded from DocuSign.
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