SFBT Reporting Sale of “Tanium” Building At ‘Steep Discount’

In what is another troubling sign for Emeryville’s Commercial Real Estate market, the “Tanium” building at 2100 Powell Street has swapped hands at a dramatically lower price than its previous sale.

Hannah Kanik of the San Francisco Business Times is reporting that Irvine-based LBA Realty has purchased the 16-story, 350,000-square-foot tower for $72.5 million, or about $200 per square foot, according to Alameda County Assessor’s Office records.

The sale price marks a 57.6% drop from the $170.9 million paid by CBRE Investment Management in 2018—a loss of nearly $100 million.

The highly visible building near the MacArthur Maze has previously been adorned with Siebel, Art.com and most recently Tanium. While the businesses name still adorns the building, Tanium moved their headquarters to Washington state in 2020 saying the region had a “real governance issue.”

The transaction appears to have been a short sale according to the SF Business Times, as CBRE had financed its 2018 purchase with a $112 million loan from Bank of America. That deal, at $480 per square foot, was once considered one of the region’s standout transactions and was named a Business Times Real Estate Deal of the Year in 2019 with the buyer calling it “The iconic building in the East Bay.”

LBA, which owns more than 7 million square feet of office space statewide, has been acquiring Bay Area office assets at discounts, including 600 Townsend St. in 2023 and 255 California St. in 2024. The company previously owned Emeryville’s three-building “Towers” complex before selling it in 2014 for $250 million.

CBRE had invested in significant upgrades at 2100 Powell, adding concierge service, fitness facilities, and modern meeting spaces.

Lobby of 2100 Powell Street (Photo: CBRE.com)

Other prominent tenants include Canopy Health, and Clif Bar, who recently shifted their remaining employees to the building following their acquisition by Mondelez. A marketing brochure shows about 103,000 square feet remain available for lease.

Previous reports have pointed to the Life Science sector as a large source of the city’s vacancies which was reported in 2024 as 37% but likely dropped with the acquisition of the Emery Yards project by Sutter Health earlier this year.