One of San Francisco’s buzziest next-generation office buildings is quietly on the block. SKS Partners has started shopping the Showplace Square office property at 1 De Haro Street, a stabilized asset that also serves as the headquarters for IoT company Samsara. The four-story mass-timber building, completed in 2021 and totaling roughly 133,000 square feet, is being marketed through brokers while SKS keeps any pricing chatter strictly off the record. How this deal trades is expected to be a closely watched litmus test for demand for premium, newly built office space in the city.
What’s For Sale
The 1 De Haro property totals 133,427 square feet, combining about 86,000 square feet of office space with roughly 43,000 square feet of light-industrial space, according to SKS Partners. Designed by Perkins&Will and completed in 2021, the project was documented as San Francisco’s first multi-story cross-laminated-timber structure by Architectural Record. The San Francisco Chronicle reported that the building would serve as Samsara’s headquarters, giving the property a high-profile tech tenant from day one.
Brokerage And Price Talk
SKS has tapped Eastdil Secured to market the asset, a move that signals this is intended as a trophy-style sale rather than a quiet one-off. Sources cited by the San Francisco Business Times floated an estimate of about $800 per square foot, which would put the value north of $100 million. SKS pushed back on that number, and the firm’s stance that the figure was inaccurate was noted by The Real Deal. For now, the building is officially being marketed without any public pricing guidance, leaving investors to guess where whispers might land.
Where This Fits In The Market
If 1 De Haro finds a buyer at strong pricing, it would mark a rare trade of a stabilized office asset in San Francisco at a time when the broader market is still trying to find its footing. CBRE’s fourth-quarter 2025 report pegged the city’s overall office vacancy rate at about 32.8 percent, even as leasing activity improved over the year, especially in higher-quality buildings, according to CBRE. That split between strong demand for new, block-size offices and a large pool of vacant, more secondary space helps explain why the Showplace Square area has turned into fertile ground for hardware and AI-oriented tenants.
Financing And What To Watch
SKS financed the development of 1 De Haro with roughly $93 million of construction-to-permanent debt, which included a $56 million senior loan and about $37 million in mezzanine financing. The senior portion is scheduled to mature in April, according to The Real Deal. Any would-be buyer is likely to zero in on that looming loan timeline, Samsara’s credit profile as an in-place tenant and whether investors are willing to pay a true premium for a modern mass-timber headquarters building in the current climate. Those factors will be the key signals to watch as 1 De Haro quietly tests San Francisco’s office market appetite.
