Gap confirmed to the Business Times last month that it was attempting to sell the 162,000-square-foot property.
Mountain View-based Sobrato Organization is close to a deal to purchase a 171,000-square-foot office building owned by Gap Inc. near the Embarcadero in San Francisco, according to sources familiar with the deal.
Gap has owned the building, located at 1 Harrison St., since 1999, and it currently serves as the headquarters for Athleta, a women's activewear brand that makes up one of its four primary divisions. The San Francisco retailerGap also owns the about a block away from 1 Harrison, but has not commented on whether it plans to move Athleta employees into that building.
Just a handful of buildings traded last year — among them another Gap property, Old Navy's former headquarters building in Mission Bay. San Francisco's DivcoWest in Aprilto purchase the 314,826-square-foot building at 550 Terry Francois Blvd. for roughly $356 million, or $1,130 per square foot.
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