Texas Investors Saddle Up and Ride Into San Francisco’s Real Estate Bargain Boom
San Francisco’s commercial real estate market has a new sheriff in town—and they’re wearing cowboy boots. Investors from Texas are riding into downtown properties, snapping up buildings at prices the city hasn’t witnessed in decades. From Union Square to California Street, Lone Star capital is giving new life to a market many thought was on life support.
One of the most talked‑about grabs is the seven‑story One Union Square building at Geary and Stockton, which recently slipped into foreclosure. The Standard reports that Texans have been among the most enthusiastic bidders eyeing distressed assets across the district.
Lone Star Funds Rides Into Town
Texas-based Lone Star Funds has quietly emerged as the likely buyer for the 360,000‑square‑foot tower at 600 California Street—formerly a flagship WeWork location. Though the Dallas investment group remains tight‑lipped, industry insiders claim a deal is fast approaching. More details surfaced from BizJournals.
Related Market Moves
Other major players are saddling up as well—from bidders circling the long‑struggling Oceanwide Center to Goodwill of Silicon Valley stepping unexpectedly into office‑landlord territory. Check out these stories:
Downtown’s $1.6B ‘money pit’ is close to getting scooped up
Your favorite thrift store just became a San Jose office landlord
This arts nonprofit lost venues—so it opened its own
Why Everyone Suddenly Wants SF Again
According to Derek Daniels, research director at Colliers, San Francisco’s “boom loop” recovery narrative is gaining traction. Outside investors—especially from Texas—see a city poised for a rebound rather than another slide.
He credits Mayor Daniel Lurie for helping restore investor confidence by amplifying the city’s recovery story nationwide. And confidence, as we know, is worth its weight in gold—or in this case, square footage.
Union Square: The Comeback Kid
Kelly Glass, principal at Avison Young, says out‑of‑state investors are increasingly energized by new leasing momentum throughout Union Square. “There’s a new investor pool focused on the area,” she shared. “Whenever I speak to them, they’re like, ‘Oh, you’re getting us excited,’ because the volume is there.”
That excitement is matched by investors not only from Texas, but New York, Alaska, and Southern California. Uris Acquisitions—rooted deeply in NY real estate—has scooped up three Powell Street buildings since May alone.
Have We Hit the Bottom?
Lacie Ravina, vice president at Colliers, believes the answer is clear: yes. “I think it signifies that we’ve bottomed out, and investors have realized that it’s time to acquire buildings at historic lows,” she explained. With inquiries pouring in and momentum building, she expects the trend to continue well into next year.
For real estate professionals—whether working in California, Texas, or right here in Florida—this moment is a reminder that market cycles always turn. And for students strengthening their skills or adding new licenses, programs through Cameron Academy help professionals stay competitive as markets shift nationwide.
Source reporting courtesy of The San Francisco Standard.
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