DWS Group has been seeking to sell its office property at 505 Montgomery St in San Francisco — but the process could get more complicated if its largest tenant at the building does not agree to an extension.
Eastdil Secured is marketing the 315,000-square-foot property in the financial district, according to a report from the San Francisco Business Times, citing sources. The German-based asset management firm was also looking to sell the asset for a period in 2024. Currently, Eastdil is aiming to get around $300 per square foot, which would value the property at roughly $95 million. That would represent a significant discount from the $118.5 million DWS paid for 505 Montgomery in 2005.
However, the price point could be "contingent" on whether the property's largest tenant, Latham & Watkins LLP, agrees to renew its lease, which is set to mature in 2028, according to the Business Times. In 2020, the law firm inked a renewal at 505 Montgomery for 117,000 square feet.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
