Brookfield has quietly put the historic Monadnock Building at 685 Market Street on the block just as productivity-software maker Notion settles in as the marquee tenant. The 10-story, century-old office property is being marketed to investors even while Notion occupies roughly half of its space, tying a headline-grabbing AI player to an active sales push in the middle of downtown San Francisco.
Brookfield lists the Monadnock for sale
According to the San Francisco Business Journal, Brookfield Properties kicked off marketing for the Monadnock Building yesterday. The offering follows fresh leasing momentum and is being positioned for potential institutional buyers, with the 685 Market St. address framed as a prime downtown asset in the report.
Notion Signs On As A Major Tenant
Notion has inked a long-term lease for about 105,000 square feet, roughly five floors of the building, and secured options to grow its footprint inside the property, per the San Francisco Chronicle. The Chronicle also reports that JLL represented Brookfield in the lease negotiations, while CBRE acted on behalf of Notion.
Historic Building, Modern Demand
The Monadnock is a Beaux-Arts office building completed in 1907 that spans about 204,625 square feet at 685 Market Street, next to Montgomery BART and the Palace Hotel, according to Wikipedia. Recently renovated, the property previously grappled with sizable vacancies after a major former tenant, Uber, placed space on the sublease market in 2019.
Why The Timing Matters
The move lines up with a broader trend in which AI and related tech companies are scooping up substantial office blocks and helping steady demand in urban cores. Commercial Property Executive reports that AI-fueled leasing has contributed to recent positive absorption and made top-tier office assets more appealing to investors.
What To Watch Next
With Notion already taking space, the listing is poised to appeal to institutional buyers looking for stabilized income and a high-profile tech anchor, though Brookfield has not revealed offering terms or an asking price. Brookfield and Notion did not immediately respond to requests for comment, according to reporting, so the real story now shifts to the fine print in the marketing materials and which buyers are willing to step up as the sale process unfolds.
