SOMA, Civic Center Federal Buildings Could Hit Sales Block

A quick flash of two San Francisco federal buildings for sale stirred conversation around the long-term office market and just who might emerge as probable buyers.

South of Market’s Speaker Nancy Pelosi Federal Building and the Civic Center’s 50 United Nations Center Plaza appeared on an online list posted to the U.S. General Services Administration’s website as part of a cost-saving measure. The list was then removed the next day, but it had some wondering who might buy with a San Francisco office revival in mind.

Some brokers say the buildings could attract interest if they’re priced at a discount. That, in turn, could potentially lead to lower rents that might woo companies back into the market.

Newmark poaches Eastdil multifamily team

A seven-person multifamily team, with resumes that tally more than $100 billion in transactions, has made its way to Newmark.

The brokerage’s latest gain from Eastdil Secured will pad Newmark’s San Francisco and Orange County offices.

Newmark CEO Barry Gosin said in a statement the team helps “further strengthen our position” as the company looks to bolster its multifamily capital market share.

Unions cry “reckless” on Newsom’s return-to-office order

Maybe Gov. Gavin Newsom took a cue from San Francisco Mayor Daniel Lurie when he told state workers they’ll need to soon head back into the office for most of the week.

Call it the official end of the post-pandemic world as about 95,000 employees are expected to head back to their desks four days a week come July 1.

It comes on the heels of Lurie telling San Francisco city workers last month he wanted them to head back in at least four days a week starting April 28.

Newsom said in a statement the move back under the same roof would increase collaboration and innovation, but the SEIU Local 1000 union called the move “reckless.” The union’s local president went so far as to call the order “out of touch” in the digital world.

Pair of San Francisco hotels could reset Bay Area hotel market

Some $725 million in debt on a pair of San Francisco hotels was sold to a mystery buyer in a deal that’s set to have broad implications for the Bay Area’s hospitality market.

The sale of the debt on the 1,921-room Hilton San Francisco Union Square and the 1,024-room Parc 55 San Francisco comes after Park Hotels handed back the keys to both properties in 2023.

Atlas Hospitality Group president Alan Reay told The Real Deal’s Emily Landes the sale will “set the new market in terms of price per room” once the deal closes.

Silicon Valley attorney, RFK Jr. running mate backs recall on LA’s Karen Bass

Discontent from some over Los Angeles Mayor Karen Bass’ handling of the January fires came to a head when a group filed paperwork this week calling for her recall.

The group disclosed on its website major funding from Nicole Shanahan, a Palo Alto attorney and former running mate to Robert F. Kennedy Jr. She’s also the ex-wife of Google founder Sergey Brin.

Bass’ political strategist Doug Herman cast off the effort as an “extreme right-wing political stunt.”