Office buildings in San Francisco continue to trade for fire sale prices, the latest a Showplace Square property that Blackstone has unloaded for about half of its purchase price.

An affiliate of Blackstone sold the 83K SF office building at 650 7th Street to SoCal firm LBA Realty for $25.4M, which translates to about $305 per SF. Blackstone purchased the building seven years ago for $50.5M, almost twice the amount it was sold for last month, the San Francisco Business Times reported.

"We continue to actively manage our portfolio to deliver the best possible investment outcomes based on evolving market conditions. Fortunately, US traditional office represents less than 2% of our owned portfolio," Blackstone said, in a statement provided to Globe St.