Sale of The Exchange on 16th, San Francisco

Deal value: $420 Million

Sale of The Exchange on 16th, a 750,000 SF creative office campus converted from industrial use, leased to technology tenants.

The core investment motivation is to acquire a premier, fully leased, LEED Platinum-certified creative office campus in San Francisco’s Mission Bay, a market with enduring demand from technology and life sciences tenants. The strategic purpose is to secure stable, long-term cash flow from a trophy asset leased to high-credit tenants (such as Dropbox) in a supply-constrained, innovation-driven submarket. The timing reflects investor confidence in the post-pandemic recovery of urban office demand, particularly for adaptable, high-quality spaces that meet evolving tenant needs.