Blackstone will pay top dollar for Charles Schwab’s San Francisco headquarters. The investment firm plans to buy 211 Main St. from CIM Group for $313M ($750/SF), the San Francisco Business Times reports.
CIM just renewed a long-term lease with Charles Schwab last year for the 18-story, 417,200 SF building. CIM originally purchased the building for $113.3M in 2009 during a huge portfolio expansion in the Bay Area. The SoMa building is near the Transbay Terminal.
The latest news falls on the heels of STRS Ohio selling its 44 Montgomery asset, Walnut Hill Group buying 150 Spear St. for $185M and TH Real Estate grabbing 539 Bryant St.