Los Angeles-based BH Properties has been busy acquiring properties in the Bay Area in the past year, including a university campus in Oakland Hills and a retail complex at Fisherman's Wharf.
The firm has now grabbed its first San Francisco office asset at a huge discount. BH is acquiring a 117K SF downtown office building at 989 Market Street that was the headquarters of software company Zendesk.
The price for the half-empty building is $13.5M, which is about $115 per SF, nearly 80% less than the $61.3M that owner ABS Real Estate Investment paid for the six-story property a decade ago, the San Francisco Chronicle reported.
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