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Report: Stake in Facebook-leased San Francisco tower could sell for over $550M

A 49% stake in the Park Tower in San Francisco, where Facebook Inc. occupies all 755,900 square feet of office space, may be sold for upwards of $550 million or over $1,500 per square foot, SFGate reported, citing five real estate professionals tracking the building.

After striking San Francisco's largest single lease deal with the social media giant in May, 95% stakeholder MetLife Inc. and owners of 5% of the asset — John Buck Co. and Golub & Co. — are set to divest the 49% interest at what could be the highest price per square foot for a San Francisco office building sans a retail component, according to the report.

The Park Tower at 250 Howard St. will stand 605 feet high upon completion by end-2018 and will be able to accommodate more than 4,000 workers.

MetLife and John Buck Co. declined to comment, the Sept. 10 report added.