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Greg Flynn Of Flynn Group Acquires 770000 SF Office At 555-575 Market Street For $177M

Property Image
SOLD
$177,000,000

California

See Similar Deals
Office770,000 SF
Sold 05/30/2025
the dealdetailscomps
Property Image
SOLD

Greg Flynn Of Flynn Group Acquires 770000 SF Office At 555-575 Market Street For $177M

575 Market Street

See Similar Deals
Office770,000 SF
Sold 05/30/2025
the dealdetailscomps

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$229
Total Square Footage:770,000 SF
Transaction Type:Sale

The property involved in this transaction is an office asset located at 555-575 Market Street in San Francisco. The property has a sale price of $177,000,000 and comprises 770,000 square feet, resulting in a price per square foot of $230.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $177,000,000
  • Buyer: Greg Flynn - Flynn Group
  • Seller: Steve Griessel - Paramount Group
  • Market: San Francisco
  • Square Footage: 770,000
  • Price Per Square Foot: $230

In this transaction, Greg Flynn is acquiring the asset in partnership with DRA Advisors through a deed in lieu of foreclosure. The acquisition represents a significant discount of 76% from a previous sale price of $722M in 2019. Plans for future development include enhancing the property with tenant-focused amenities such as pickleball courts, a rock climbing wall, and an outdoor sports bar to adapt to the recovering office market.

Players

Paramount Group
Paramount Group
SELLER

Details

SOLD
IMAGE: Greg Flynn & Steve Griessel DATE: 05/30/2025 ADDRESS: 555-575 Market Street MARKET: San Francisco ASSET TYPE: Office BUYER: Greg Flynn - Flynn Group SELLER: Steve Griessel - Paramount Group SALE PRICE: $177,000,000 SF: 770,000 ~ PPSF: $230 NOTE: Greg Flynn, in partnership with DRA Advisors, is acquiring San Francisco’s 770,000 SF Market Center for ~$177M via a deed in lieu of foreclosure, marking a 76% discount from its 2019 sale price of $722M. Flynn plans to revamp the half-leased towers with tenant-focused amenities like pickleball courts, a rock climbing wall, and an outdoor sports bar to compete in the recovering office market.

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