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SB Real Estate Investments is preparing to list a significant San Francisco property at a substantial discount from its original purchase price. The company plans to sell the eight-story building at 799 Market Street in the South of Market area for $50 million, which works out to $344 per square foot. This is a notable decrease from the $141.5 million ASB paid for the property in 2016, or $973 per square foot.

    The building, which features office and retail space, has been renovated and is occupied by a busy Ross Dress for Less storefront. ASB acquired the property as part of its strategy to invest in prime urban locations with high demand for office and retail space. The company has made similar investments in the past, including two Downtown office buildings it sold earlier this year at fire-sale prices.

    ASB still owns several properties in San Francisco, including a 140,000-square-foot office building in Potrero Hill. The company's long-term strategy for its local portfolio remains unclear, as ASB did not respond to inquiries about its plans.