In the larger of the two deals, Broadreach paid Bay Pacific Corp. $58 million or $295 per sf for a 10-story, 196,630-sf (net rentable) building that sits at 550 Kearney St. in the North Financial District. The first six stories of the building were built in 1956, the remainder in 1981. The property includes subterranean parking for approximately 150 cars. The property is 50% leased.

Broadreach senior director Trevor Wilson, who oversees the firm's investment activities in San Francisco and the Pacific Northwest, tells GlobeSt.com the bulk of the vacancy came in 2006 when the building's primary tenant, a federal bankruptcy court, vacated the premises. "What it allows us to do is go in and put traditional office tenants in the building," says Wilson, adding that class B office rents in the area range from the high $30s- to mid-$40s per sf, full service.

In the other deal, Broadreach paid Archstone-Smith $42.7 million or $197 per sf for the 216,600-sf (net rentable) office component of Fox Plaza, a 29-story, mixed-use tower built in 1964 in the Civic Center section of the South of Market (SOMA) neighborhood. Located at 1390 Market St., the building's office space is located on the first 12 floors and is 84% occupied. The upper floors contain residential apartments.