Patelco CU Sells San Francisco Headquarters For $10 Million

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SAN FRANCISCO – Patelco CU, which is in the process of moving to suburban Pleasanton, sold its south financial district headquarters to New Urban Properties for $10 million.

The sale included two buildings totaling 50,000 square-feet of space. One of the buildings was completed in 1909; the other was constructed five years later, and went through a two-story addition in the 1980s.

Both will be vacant when Patelco completes its move at the end of February.

New Urban has become a major landlord in San Francisco, having bought nine historic building between 2006 and 2008.

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