Assets
Office · SF SoMa

350 Mission Street (Salesforce East)

350 Mission Street, SF SoMa · Built 2015 · 30 floors
Partial
Current value
$300.0M
▼ 15.5% 1-yr (modeled)
Cap rate
5.65%
▲ 55 bps vs 5.10% submarket
NOI · derived
$17.0M
Value $/SF
$659
$241.2M$257.5M$273.8M$290.0M$306.3M201920202021202220232024Modeled trajectory — no observed history
sourcedmodeled0 of 6 sourced

Ownership & debt

Ownership graph

Asset → owner → parent → beneficial owner · every edge sourced

Ownership transparency

Recorded chain
Recorded owners
Kilroy Realty Corporation
US-MD · Stock Corporation · Fee simple · 100% interest
Ultimate beneficial owner — as recorded
Kilroy Realty, L.P.
Beneficial interest
Kilroy Realty Corporation (NYSE: KRC), publicly traded REIT
Beneficial interest
Corporate structures from GLEIF LEI Level-1/Level-2 data (CC0, golden copy 2026-07-26). Methodology

Debt

No publicly recorded debt
Debt appears here only when a recorded mortgage, deed of trust or securitization filing names this asset — nothing is inferred from ownership or market norms.
Securitized debt — SEC loan tape
No SEC ABS-EE loan-level filing is matched to this asset. Public loan tapes exist only for SEC-registered CMBS — most large-asset debt is 144A-private, balance-sheet or agency financed and files none.

Tenants & leasing

estimated
Occupancy
98.0%
WALT (area-wtd)
9.2 yrs
Top-3 concentration
98%
Salesforce, Inc. — original 100% pre-lease whole-building lessee, since downsized and subleased spaceSephora — subleased ~286,000 sf / 16 floors as U.S. HQ (2022)Yelp — subleased 53,596 sf (2021)
Per-tenant lease detail arrives with disclosed stacking plans.
Top 3 of ~3 tenants shown. Occupancy / WALT / concentration are whole-building estimated figures.

Underwriting

Assumptions — user inputs, not sourced data: 5-year hold · exit cap +25 bps vs today · 3.0% NOI growth per year.
Assumptions — user inputs, not sourced data
Hold period
Exit cap vs today
+25 bps
NOI growth / yr
3.0%
Unlevered IRR
8.1%
Exit cap
5.90%
Exit value
$334.0M
Exit NOI
$19.7M
Unlevered IRR sensitivity — exit cap Δ × NOI growth
Exit Δ2.0%2.5%3.0%3.5%4.0%
-25 bps8.7%9.2%9.7%10.3%10.8%
0 bps7.8%8.4%8.9%9.4%9.9%
+25 bps7.0%7.6%8.1%8.6%9.1%
+50 bps6.3%6.8%7.3%7.9%8.4%
+75 bps5.6%6.1%6.6%7.2%7.7%
Modeled output — not investment advice. Derived from the assumptions above, not sourced claims.

Provenance footnotes

  1. Current value: Estimated — no sourced claim on file.
  2. Cap rate: Estimated — no sourced claim on file.
  3. NOI: Estimated — no sourced claim on file.
  4. $/SF: Estimated — no sourced claim on file.
  5. GLA: Estimated — no sourced claim on file.
  6. Ownership — Kilroy Realty Corporation: Single source — kilroyrealty.com · https://kilroyrealty.com/properties/350-mission/
  7. Tenant — Salesforce, Inc. — original 100% pre-lease whole-building lessee, since downsized and subleased space: Single source — therealdeal.com · https://therealdeal.com/san-francisco/2023/04/13/salesforce-to-exit-30-story-namesake-tower-in-downtown-sf/
  8. Tenant — Sephora — subleased ~286,000 sf / 16 floors as U.S. HQ (2022): Single source — therealdeal.com · https://therealdeal.com/san-francisco/2022/01/14/sephora-takes-286k-sf-in-sf-citys-biggest-covid-era-office-lease/
  9. Tenant — Yelp — subleased 53,596 sf (2021): Single source — en.wikipedia.org · https://en.wikipedia.org/wiki/350_Mission_Street

Modeled figures — LTV, debt yield, DSCR, cash-on-cash, occupancy, WALT, tenant concentration and every underwriting output are derived arithmetic, not sourced claims. Underwriting outputs follow the assumptions printed in the panel — user-editable inputs, not observations. Not investment advice.

Anchoring begins when the asset enters the live ledger.