Less than a year after coming to market with a $160 million asking price, the office tower at 550 California Street owned by Wells Fargo is likely to sell for about one-quarter of that price, according to a source close to the deal.
https://therealdeal.com/sanfrancisco/2023/04/27/wells-fargo-likely-to-sell-550-california-street-at-deep-discount/
Yeah, mass shootings have definitely never ever happened in CA, CO, IL etc. Never ever. 😐
@qho+1mmlLYU3 yes indeed, WF owns 550 California
WF doesn't own 550 California.
@zhi+1mmlLYU3 if you're saying you encounter homeless and put yourself in danger to RTO-- that's my concern as well.
plenty of us back office folks still here in Cali
@zhi beats the threat of mass shootings in red states.
Yes, but does 333 have violent homeless people throwing their 💩 like monkeys?
Wells has plenty of buildings in SF. Most likely everyone will be going to 333 Market, which will probably become the new "HQ" building
550 California is not one of the premier office locations in SF. Good riddance.
Are there other hubs in the bay area? What happens to all the employees that work out of the SF office?
Canned?
They know the commercial real estate crash is coming and are getting what they can now before the bottom drops out.
There's also an article on 350 Cal selling for only 20% of it's once $300m value. Not owned by Wells though