San Francisco, CA
S.F. office tower that was sold at a steep discount lands first new tenant
The Swig Co. and SKS Partners purchased 350 California St. in downtown San Francisco in August at a steep discount. Now, the office building has its first new tenant.
Google Street ViewSome five months later, the longtime home of the Union Bank at 350 California St. has landed its first new tenant.
Advertisement
Article continues below this ad
The Swig Co. and SKS Partners — the joint venture that acquired 350 California St. for $61 million at the end of August — announced Tuesday that it has signed a long-term lease with affordable housing developer Bridge Housing, which is planning to relocate its headquarters to the building.
“The San Francisco market’s reset creates a tremendous opportunity for nonprofits, growth companies and other mid-size users to solidify their place in the city’s office ecosystem,” said Paul Stein, managing partner of SKS. “This is good for tenants and landlords as well as the long-term outlook for our local economy moving forward.”
Bridge was founded in San Francisco in 1983 and is currently headquartered two blocks over from 350 California, at 600 California St.
In a statement provided to the Chronicle, Bridge CEO and President Ken Lombard described 350 California as a “first-rate building with extensive amenities that will provide a comfortable, healthy and productive environment for the BRIDGE Housing team as we pursue our affordable housing mission.
“We look forward to beginning a new chapter of our long legacy in San Francisco in our new corporate home,” Lombard said.
Advertisement
Article continues below this ad
The developer did not immediately respond to a message seeking additional comment, and it is unclear what motivated the relocation at this time.
According to 350 California’s new owners, Bridge will move its headquarters to the building’s 16th floor, which spans about 16,105 square feet.
“One of the reasons we like the building, and a motivating factor for us as an investor, is that we believe the 16,000-square-foot floor plates hit a sweet spot sought by the widest range of tenants in the current market and for the foreseeable future,” said Connor Kidd, Swig’s CEO.
The tower itself encompasses roughly 300,000 leasable square feet, a third of which is still occupied by its previous owner, Mitsubishi UFJ Financial Group.
MUFG acquired a stake in what was Union Bank starting in the 1990s before selling its operations to U.S. Bancorp last year. The global financial group first listed 350 California for sale in 2020, and at that time sought $250 million for the building.
Advertisement
Article continues below this ad
But like most other buildings in San Francisco, the COVID-19 pandemic and subsequent rise in office vacancy in San Francisco has caused building values to plummet. In the months leading up to the pandemic, the city recorded a vacancy rate in the single digits — by year-end 2023, vacancy spiked to 35.9%.
MUFG selected Swig and SKS as the building’s buyer in May, and at the time agreed to a short-term lease back of some of its office space.
The building’s high-profile sale came as two other office towers traded in what is known as fire sales to local buyers with “patient capital” — in other words, investors who aren’t expecting a quick profit, but instead are looking further down the road.
And in September, Peninsula-based investor Roger Fields picked up the 355,000-square-foot 550 California St. property that once housed Wells Fargo Bank for just over $40 million, or $114 per square foot — less than half of what it was worth nearly two decades ago.
Advertisement
Article continues below this ad
San Francisco, CA
Trump floats sending federal agents to San Francisco to tackle crime
President Donald Trump was once again floating the idea of sending federal agents to San Francisco to tackle crime.
It happened during a cabinet meeting on Thursday. The president praised Mayor Daniel Lurie’s efforts to lower crime but said he can do it more effectively.
“San Francisco, I know, they have a mayor who’s trying very hard. He’s a Democrat, but he’s trying very hard, but we can do it much more effectively, because he can’t do what we do. He can’t take people out from the city and bring them to back to the country, from where they came, where they were in prisons,” Trump said.
“He’s trying. He’s doing okay, but we could do much better. We could make it a lot safer than it is. San Francisco, a great city, was a great city, could quickly become a great city again. But, you know, they’re going very slowly,” he continued.
The president implied that the mayor needs federal help to battle crime, saying immigrants are responsible for the lawlessness. However, according to a 2025 study by researches at UCLA and Northwestern, arresting and deporting undocumented immigrants was not associated with reduced crime rates.
Gabriel Medina, executive director of La Raza Community Resource Center In San Francisco agrees.
“I think we need to make sure that our city does not also try to play this game of making up ideas about always associating crime with immigrants, when immigrants commit less crime, so that’s really bad,” Medina said.
In response to the president comments, the mayor released a statement that reads: “In San Francisco, crime is down 30%, encampments are at record lows, and our city is on the rise. Public safety is my number one priority, and we are going to stay laser focused on keeping our streets safe and clean.”
This isn’t the first time President Trump has mused with the idea of sending federal agents to the Bay Area; last October, agents were staged at a military base in Alameda, but Trump called off the plan after talking with Lurie and Bay Area tech leaders.
“We cannot normalize what this president is saying from San Francisco, that crime is associated with immigration. We need to stop conflating that,” Medina said.
San Francisco, CA
Man convicted in the deadly 2021 assault of a Thai grandfather in San Francisco avoids prison
SAN FRANCISCO (AP) — The man convicted in the fatal 2021 attack of an older Thai man in San Francisco, which galvanized a movement against anti-Asian hate, will be able to avoid prison time, a judge ruled Thursday.
Antoine Watson, 25, was sentenced to eight years for manslaughter in the death of Vicha Ratanapakdee, 84. But, having already spent five years in jail awaiting trial, Watson received credit for time served, and San Francisco Superior Court Judge Linda Colfax said he could have the remaining three years suspended if he follows the rules of his probation.
Ratanapakdee’s daughter, Monthanus, expressed her family’s disappointment in a statement shared by Justice For Vicha, the foundation named for her father.
“We respect the court process. However, this is not about revenge — it is about accountability,” she said. “When consequences do not reflect the seriousness of the harm, it raises concerns about how we protect our seniors and public safety.”
Vicha Ratanapakdee was out for his usual morning walk in the quiet neighborhood he lived in with his wife, daughter and her family when Watson charged at him and knocked him to the ground. Ratanapakdee never regained consciousness and died two days later.
Watson testified on the stand that he was in a haze of confusion and anger at the time of the unprovoked attack, according to KRON-TV. He said he lashed out and didn’t know that Ratanapakdee was Asian or older.
San Francisco Public Defender Mano Raju, whose office defended Watson, also said at his trial that the defendant is “fully remorseful for his mistake.”
The Office of the San Francisco Public Defender did not immediately respond to an email requesting comment on Watson’s sentencing.
Footage of the attack was captured on a neighbor’s security camera and spread across social media, prompting a surge in activism over a rise in anti-Asian crimes driven by the COVID-19 pandemic. Hundreds of people across several U.S. cities commemorated the anniversary of Ratanapakdee’s death in 2022, seeking justice for Asian Americans who have been harassed, assaulted and even killed in alarming numbers.
Asians in America have long been subject to prejudice and discrimination, but the attacks escalated sharply after COVID-19 first appeared in late 2019 in Wuhan, China. More than 10,000 hate incidents against Asian Americans and Pacific Islanders were reported to the Stop AAPI Hate coalition from March 2020 through September 2021.
While the Ratanapakdee family asserts he was attacked because of his race, hate crime charges were not filed and the argument was not raised in trial. Prosecutors have said hate crimes are difficult to prove absent statements by the suspect.
San Francisco, CA
Authors gathering in San Francisco to raise awareness and money for the National Kidney Foundation
A number of notable authors are set to take part in a special event in San Francisco this Sunday, celebrating a shared love of reading while shining a light on an often overlooked health issue. The National Kidney Foundation Authors Luncheon brings together writers and community members to support kidney health awareness and raise funds for critical programs.
-
Detroit, MI1 week agoDrummer Brian Pastoria, longtime Detroit music advocate, dies at 68
-
Movie Reviews1 week ago‘Youth’ Twitter review: Ken Karunaas impresses audiences; Suraj Venjaramoodu adds charm; music wins praise | – The Times of India
-
Sports6 days agoIOC addresses execution of 19-year-old Iranian wrestler Saleh Mohammadi
-
New Mexico5 days agoClovis shooting leaves one dead, four injured
-
Business1 week agoDisney’s new CEO says his focus is on storytelling and creativity
-
Technology5 days agoYouTube job scam text: How to spot it fast
-
Tennessee4 days agoTennessee Police Investigating Alleged Assault Involving ‘Reacher’ Star Alan Ritchson
-
Texas1 week agoHow to buy Houston vs. Texas A&M 2026 March Madness tickets