August 19, 2019
San Francisco’s iconic 48-story Transamerica Pyramid is officially listed for sale for the first time ever by Transamerica Corp. The 702,000-square-foot property at 600 Montgomery St., along with two smaller, adjacent buildings, could reach a sales price exceeding $600 million.
Transamerica’s Jay Orlandi said in a statement, “Right now, San Francisco has a very robust office real estate market. We are exploring options for a possible 100% interest sale of the property, with Transamerica retaining naming and branding rights.”
The insurance giant built the 853-foot tower in 1972, though no longer occupies space in the property. The 90%-leased asset counts among its tenants financial firms such as Callan, JMP Group and Northwestern Mutual.
The Transamerica Pyramid held the city’s title of tallest building for more than three decades. Salesforce Tower, which opened last year, now holds that distinction, at 1,070 feet.
JLL is handling the listing.
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