It’s been a turbulent decade for 1155 Market St., an 11-story office building across from Civic Center’s U.N. Plaza, but it’s entering a new chapter. Petaluma-based STG Group purchased eight floors of the property this month for roughly $8 million, according to city records.
“We see the building as part of the broader rebirth of Mid-Market, Civic Center, and downtown,” STG representative Jose McNeill told The Standard, “not as a speculative flip, but as a long-term asset we intend to own and operate well.”
The purchase price marks a plunge from the space’s $80 million valuation in 2015 (opens in new tab), when the neighborhood had filled up with buzzy tech companies like Uber, Twitter, and Spotify…