Mission Bay Prices Back Up?

Hines is buying the Gap's Old Navy HQ on Terry Francois Boulevard in Mission Bay for $180M. The current owners, a German real estate investment firm, paid $136M to Tischman Speyer back when the Euro was strong in 2009– Tischman paid $173M for it in 2005. Ouch. The Gap's budget brand pays $45-sq-ft on a lease that extends to 2017. Meanwhile, Hines is selling off two other buildings downtown– 100 Market Street and 101 California Street. [San Francisco Business Times]