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Buchanan Street Divests S. San Francisco Flex Office Campus for $48M
Newport Beach, CA-based Buchanan Street Partners sold Dubuque Center, a three-building, 112,000-square-foot flex office and R&D campus in South San Francisco to SFF Realty Fund III, an affiliate of San Francisco-based PSAI Realty Partners, for $47.5 million.
Buchanan Street purchased the asset located at 800-890 Dubuque Ave. in 2015 as a value add investment, seeking to capitalize on the strong demand for flex office space surrounding the Oyster Point submarket. In addition to physical improvements, Buchanan Street focused on converting underperforming industrial space into laboratories and other life science uses.
Buchanan Street Partners’ Robert Dougherty says, “We understood early on that the property’s strategic location within the heart of San Francisco’s burgeoning life sciences and biotech hub supported repositioning the asset to meet the high demand from biotech users in a supply-constrained market.”
HFF’s Michael Leggett, David Dokko and Ben Bullock represented Buchanan Street in the sale of the 93%-leased asset.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


