SAN FRANCISCO—San Francisco’s historic Townsend Building, a six-story brick and timber building, is expected to sell for $140 million. The building was constructed in 1903 and is located near Oracle Park at both the 123 Townsend Street and 118 King Street addresses. The city’s Panning Department’s Historic Preservation Commission listed the building as one that survived the earthquake in 1906.

The Townsend Building is expected to be sold to CBRE Global Investors. It was originally expected to be sold to Alexandria Real Estate Equities, but they cancelled the deal in April. Alexandria Real Estate Equities forfeited a $10 million deposit by cancelling the deal with Manchester Capital Management LLC and Newmark Knight Frank. CBRE Global Investors is expected to finalize the deal on the 137,624-square-foot building soon.

The price of the Townsend Building dropped from the $160 million asking price in 2019. The Townsend Building was renovated in 2000 with a new roof, elevators, and skylights.