SAN FRANCISCO — Presidio Bay has purchased 60 Spear Street, an 11-story office building in San Francisco’s South Financial District, for $40.9 million. Erik Hanson and Robert Hielscher of JLL represented the undisclosed seller in the deal.
Originally built in 1967, 60 Spear Street currently offers 157,436 square feet of office space. At the time of sale, the property was 30 percent occupied and is expected to be vacant by summer 2025.
Presidio plans to expand the building’s current footprint to a 170,000-square-foot, Class A trophy office building. The redevelopment program also includes adding a spa with cold and warm plunges, saltwater floating pools, steam/sauna rooms, a fitness center, a conference and employee entertainment area, coworking lounges, an integrated café bakery and a rooftop bar and restaurant.