At least three San Francisco office buildings that were re-listed at heavy discounts after failing to achieve asking prices in recent years are now under contract, the San Francisco Business Times reported. It’s a sign that the days of landlords “testing the market” to gauge office values amid rising vacancy may be coming to an end.

The latest is 180 Howard St., a 250,000-square-foot office building in SoMa that has served as the State Bar of California headquarters for three decades. San Francisco-based development firm Ellis Partners and equity partner Baupost Group are reportedly slated to buy the 13-story building.

The price is expected to be about $250 per square foot, or $62 million. The building was initially shopped around a year ago for an undisclosed price but failed to trade. Earlier this year, it was re-listed with guidance of about $85 million, or $400 per square foot, reported the Business Times.

It’s a similar story at two other office towers that hit the market but failed to secure buyers until now. One, the 350 California St. tower once occupied by Union Bank, is under contract for 75% below what its seller hoped for in 2020. The other, 550 California St., is expected to sell for less than half what current owner Wells Fargo paid nearly two decades ago.

Pictured: 180 Howard St. Photo by Coolcaesar/Wikimedia.