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Office · San Francisco, United States

SoMa Creative Office Floorplate

SoMa

The opportunity

SoMa Creative Office Floorplate trades at a basis 52% below replacement cost because the market has stopped underwriting office as a category. The remaining credit is real — 2.8 years of term on the top three tenants — and no new competing supply is under construction. The San Francisco case: a repricing that has run further than the fundamentals justify.

  • Basis 52% below replacement cost
  • 2.8 years WALT on the top three tenants
  • 9,200 sq ft contiguous vacancy, fully demised