Westfield has sold two aging office buildings on Mission Street for a combined $15.5 million, a price that marks a 63% nominal decline in value from what the mall giant originally paid nearly two decades ago. The buyer, two LLCs linked to New York-based Seven Equity Group, is now the latest opportunistic investor to scoop up distressed San Francisco real estate at a steep markdown.
The sale of 814 and 818 Mission St. was first reported by The San Francisco Standard, which detailed how Westfield bought the properties for $42 million nearly 20 years ago with plans to eventually tear them down and expand its adjacent San Francisco Centre mall. Those plans never materialized, according to the outlet's reporting. Adjusted for inflation, the properties have lost 76% of their value since Westfield acquired them, per the same account.
Westfield, part of French conglomerate Unibail-Rodamco-Westfield, put the two buildings up for sale in spring 2026. The company withdrew from the San Francisco Centre itself in 2023, and Nordstrom's announcement that it would not renew its lease at the mall helped precipitate that exit, as Hoodline reported in coverage of the anchor tenant's departure.
A Newsroom Turned Office Building Changes Hands Again
The historic Bulletin Building at 814 Mission St. has hosted community programming for the San Francisco Filipino Cultural Center in SOMA Pilipinas, according to SOMA Pilipinas.
Next door, the five-floor 818 Mission St. dates back even further, to 1907. Its ground-floor space abutting Jessie Street has sat empty since the Denny's that operated there for nearly 25 years permanently closed in late 2024. The franchisee cited ongoing street-level vandalism and dine-and-dash incidents as reasons for the closure, according to the Standard's reporting.
Before Westfield's ownership, 814 Mission St. was part of a 500,000-square-foot downtown office portfolio controlled in the late 1990s by controversial local real estate investor Luke Brugnara, according to SFGate. Municipal records also show that 814 Mission St., registered under Bulletin Building LLC, was referred to a San Francisco Department of Building Inspection Director's Hearing in February 2025 over code enforcement complaints, according to city records.
Seven Equity Group's Pattern of Distressed Buys
Seven Equity Group's purchase fits a pattern the New York firm has followed across San Francisco in recent years. The company owns 420 Taylor St., and it bought the former WeWork building at 25 Taylor St. out of receivership for less than $7 million in July 2026 after original owner War Horse Cities defaulted on debt when WeWork vacated, according to Traded. That 25 Taylor St. deal worked out to roughly $136 per square foot for the 50,000-square-foot building.
The firm also purchased 731 Market St. for $15 million at the end of 2024, after seller Jamestown LP faced debt default notices, per the Standard's reporting. That 93,000-square-foot building had sold for $65.5 million in 2015 before Jamestown's debt troubles surfaced in 2023, according to The Registry. Seven Equity Group is the buyer in the Mission Street and 25 Taylor Street transactions described above. Representatives of the buyer and its broker did not respond to requests for comment, the Standard reported.
Downtown's Vacancy Crisis Sets the Backdrop
San Francisco's downtown office market has faced pressure from remote work shifts and tenant exits. That backdrop provides context for trading in downtown office assets. Seven Equity Group's acquisition model reflects an opportunistic buying pattern.
The Mission Street sale also lands amid renewed uncertainty over the fate of the adjacent San Francisco Centre mall itself. Lenders led by Deutsche Bank and JPMorgan Chase took full control of the 1.2 million-square-foot mall in November 2025 through a $133 million foreclosure credit bid, a steep drop from the mall's valuation a decade ago, according to The San Francisco Standard. Westfield had surrendered the mall to lenders after defaulting on $558 million in debt, a saga Hoodline tracked in its reporting on Westfield's exit. According to the Standard's reporting, the mall continues to seek a buyer. The Mission Street properties sit next to the San Francisco Centre.
