Report: Plans to Sell Off Its San Francisco Land

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    Asa Mathat
    File photo of CEO Mark Benioff. knows when it's time to sell.

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    San Francisco Tech giant marked its 15th anniversary with a giant party that was equal parts music and philanthropy. Joe Rosato Jr. reports. (Published Friday, March 7, 2014)

    The cloud software company, one of San Francisco's bigger tech companies, is plotting to sell off a 14-acre parcel of land in Mission Bay, according to Bloomberg.

    The land, bought in 2010 for $278 million, is likely worth much more than that now, with real estate in the city at an all-time premium.

    The company had planned to construct a new campus there but instead has decided to lease other office space, the website noted.

    Recently, another Mission Bay parcel of land sold for 74 percent more than what it had last sold for in 2012, according to the website declined to comment on the sale.