Strada Pays $103M for Samsara HQ in San Francisco’s Showplace Square

Strada Investment Group closed on a deal to purchase wireless networking company Samsara’s headquarters in San Francisco’s Showplace Square. The San Francisco Business Times reported that the $103-million acquisition, which equates to roughly $771 per square foot, helps set a baseline for stabilized office building values in the post-pandemic era. The 133,427-square-foot building at 1 De Haro was developed by SKS Partners and is fully leased to Samsara.

A source familiar with the deal told the Business Times that Strada worked with an institutional pension fund capital partner for the deal. The building is one of a small number of stabilized office properties in San Francisco that have come to market and transacted in recent years. The asset category — fully leased buildings generating revenue as expected — had not seen established pricing guidance until now.

“It was a confluence of factors,” said Jesse Blout, founding partner of Strada. ”An amazing building priced well below replacement cost, located in a dynamic neighborhood, anchored by a fabulous tenant in Samsara.” Eastdil Secured marketed the property on behalf of SKS.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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