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New owners, new strategy for largely empty San Francisco office tower

Investors take over distressed 5M building in SoMa
The sleek glass tower at 415 Natoma St. in San Francisco's SoMa neighborhood has been mostly empty since it came online in 2022. (CoStar)
The sleek glass tower at 415 Natoma St. in San Francisco's SoMa neighborhood has been mostly empty since it came online in 2022. (CoStar)
CoStar News
June 29, 2026 | 10:35 P.M.

In 2022, a glass-clad office tower opened in downtown San Francisco, just as the bottom was dropping out of the city’s office market. Four years later, the building known as 5M at 415 Natoma St. has new owners with a plan to finally fill its nearly 650,000 square feet of office space, which remains mostly empty.

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