Ferry Building To Be Sold, Expected To Fetch $300M

Ferry Building To Be Sold, Expected To Fetch $300MPhoto: Travis Wise/Flickr
Teresa Hammerl
Published on June 12, 2017

As Bloomberg reported last Friday, Blackstone Group LP is planning to sell the landmark Ferry Building, as well as two of its other properties.

The historic building, which first opened in 1898, includes the marketplace, office building and transportation hub at the foot of Market St. According to the San Francisco Business Times, the property offers "175,000 square feet of office space and 65,000 square feet of retail."

The sale is planned for the next few weeks, a Blackstone spokesperson told Bloomberg, and expected to bring in more than $300 million.

Photo: Tiocfaidh ár lá 1916/Flickr

According to the Ferry Building's website, Equity Office is the controlling member and principal financial investor in the Ferry Building Marketplace. In 2007, the property trust was bought by New York-based Blackstone in what Bloomberg called "the largest real estate buyout of all time" for $39 billion.

Today, Blackstone operates the iconic building under a 66-year-long lease from the Port of San Francisco. 

No date has yet been set for the sale, which includes two other properties owned by Equity Office, including an office park in Santa Monica that houses offices for Snap Inc., the parent company of Snapchat, and a 32-story skyscraper in Boston.