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500 Pine St Courtesy Heller Manus Architects.

Investor Pays $73 Million for Boutique San Francisco Office Building

Heitman LLC paid approximately $1,300 per sq. ft. for the 56,000-sq.-ft. building at 500 Pine Street.

Investor Heitman LLC picked up 500 Pine St., a 56,000-square-foot office building, for $73 million or about $1,300 per square foot, according to property records. The Business Times reported in May that Heitman was working on a deal to buy the property from developer Lincoln Property Co. and Chinese partner Gemdale. The sale closed in September. The sellers completed development of 500 Pine in 2017 and leased it up to fintech startup Blend and retailer CVS Health Corp. (NYSE: CVS).

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