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.
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Some five months later, the longtime home of the Union Bank at 350 California St. has landed its first new tenant.
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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.
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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.
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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.
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The Oakland Unified School District Board of Education has picked veteran educator Dr. Denise Saddler to serve as interim superintendent for the 2025/2026 school year.
In their announcement the district said Dr. Saddler was previously the principal at Chabot Elementary School and the Network Executive Officer for the district.
She also spent six years as the president of the Oakland Education Association the union representing thousands of educators in the city.
In addition to her time in Oakland she served as the Assistant Superintendent of Education Services for the Berryessa Union School District in San Jose and has spent the last four years as a lecturer for the U.C. Berkeley Doctoral Program.
The school board is still finalizing the terms of Dr. Saddler’s contract the details of the agreement will have to be finalized at an upcoming board meeting. Dr. Saddler is expected to start on July 1.
She is taking over for Kyla Johnson-Trammell who had her contract terminated earlier this year. She had served as superintendent since 2017 and is reportedly among the longest-serving Oakland Unified superintendents in district history. Her termination came after she had her contract extended by three years back in August.
When Dr. Saddler takes over as interim superintendent she will be inheriting an estimated $95.7 million deficit. Earlier this year board members voted to freeze $29 million something board director Mike Hutchinson said would decimate 50% to 80% of their after-school programs.
It’s coyote pupping season, and this is the time of year people may encounter more confrontations with them.
Those at Golden Gate Park recently noticed park rangers educating dog owners about an incident over the past weekend.
Howling coyotes at Golden Gate Park near Lindley Meadows, a popular spot where dog owners walk and play with their pups. Brandon Hartstein and his dog Oden encountered a pack of coyotes in the area about a year ago.
“We were walking on a trail that’s not too popular and all of a sudden, three coyotes just appeared and started kind of stalking us,” said Hartstein.
Similar stories of coyote encounters are surfacing this year. Lauren Roche watched her dog get chased by coyotes.
“She was running along the grassy area and I was running in the path that doesn’t have cars, and there were two coyotes that started chasing after her,” said Roche.
“And I look over, wow, they’re going so fast, and it was two coyotes chasing after her. Luckily, she was fast enough to outrun them, and I called her back over and they ended up going away.”
Signs like these are posted in Golden Gate Park to warn people about these potential run-ins with coyotes. Experts say coyotes are just protective during pupping season and are not displaying unprovoked aggression. They say the best thing to do is to shorten the leash and walk in the other direction. Something Hartstein tried to do.
“We kept on walking away,” said Hartstein. “I was making loud sounds trying to scare them off, and eventually we started running. Luckily, a biker came by and I flagged him down and he helped to chase them off.”
Some dog owners have noticed coyotes getting bolder and becoming used to humans in their territory. They say with these canines all over the Bay Area, the key is to limit conflicts and coexist with each other.
“I just kind of try to adjust my way of living because it’s part of where they live,” said Roche. “I wouldn’t have to adjust for someone coming into my home.”
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The statue was installed last month with hopes it will attract more visitors and help boost economic activity in the city.
The statue is called R-Evolution. (Photo Credit: X)
San Francisco’s Embarcadero Plaza is home to a new, eye-catching figure – a 45-foot tall statue of a naked woman. Named R-Evolution, this steel sculpture weighs 15,000 kg and shines with multicoloured lights. Created by artist Marco Cochrane, it is the final piece in his ‘The Bliss Project’ series, which debuted at the Burning Man festival in 2015.
The San Francisco Recreation and Park Department, together with The Sijbrandij Foundation and Building 180, installed the statue last month hoping it will attract more visitors and help boost economic activity in the city.
Social media platforms have been buzzing with opinions.
A user wrote on X, formerly Twitter, “San Francisco unveiled their 45-foot statue of a nude woman Thursday at Embarcadero Plaza to attract tourism. The piece is titled ‘R-Evolution.’ SF continues to be plagued by crime, homeless and illegals. The city would have many more tourists if these issues were addressed.”
San Francisco unveiled their 45-foot statue of a nude woman Thursday at Embarcadero Plaza to attract tourism. The piece is titled “R-Evolution.”SF continues to be plagued by crime, homeless, and illegals. The city would have many more tourists if these issues were addressed. pic.twitter.com/zc0EUunniF
— Paul A. Szypula 🇺🇸 (@Bubblebathgirl) April 13, 2025
Another wrote, “Public art is a waste of money.”
Public art is a waste of money.— Jakob Mi (@Jakob_Mi_) April 13, 2025
“This is not the way to attract more tourists,” a comment read.
This is not the way to attract more tourists.— reddog (@reddog38104528) April 13, 2025
Someone said, “This is weird.”
“And the point of that statue is what??” a user asked.
And the point of that statue is what??— Vortex9 (@Savage_Vortex9) April 10, 2025
The Recreation and Park Department defends the installation as gender representation in public art. According to their press release, “Despite making up more than half the population, women are vastly underrepresented in public art, comprising only 8% of statues in the US. This sculpture challenges that imbalance, creating a powerful moment of visibility and reflection.”
R-Evolution is an impressive piece of art. Made with more than 55,000 steel welds, the statue moves slightly for one hour each day to look like it is breathing. At night, it lights up softly with colourful lights, turning Embarcadero Plaza into a beautiful spot to visit after dark.
The artist Marco Cochrane explains his vision behind the sculpture: “This sculpture is about being seen. Women’s presence in public art is rare. When they are depicted, it is often through outdated or passive narratives. R-Evolution challenges that. She stands strong, aware and grounded, calling for a world where all people can walk freely and without fear.”
Cochrane’s work focuses on empowering female figures in a way that breaks away from traditional portrayals. ‘The Bliss Project’ series, ending with R-Evolution, shows women not as passive objects but as powerful, self-aware beings.
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Delhi, India, India
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