It’s not a bad-looking building, but the relatively small downtown Honolulu office tower named Clifford Center is proving to be a tough sell.

The building’s owner, Pacific Office Properties Trust Inc., has failed for a third time to sell the 10-story property after arranging purchase and sale agreements with prospective buyers.

Honolulu-based Pacific Office noted the latest canceled sale in a recent financial report filed with the federal Securities and Exchange Commission.

The company had arranged to sell the building at 810 Richards St. in May to California-based McKinney Capital Group for $9.3 million. Pacific Office said McKinney elected not to go through with the purchase in August.

The canceled sale followed two similar events over the past year. In January, Colorado-based Broadmoor Capital Corp. had tentatively agreed to buy Clifford Center for $10.1 million but backed out. And last year, Alexander & Baldwin Inc. made a deal to pay $11.2 million for the building before pulling out of that transaction.

Pacific Office, which was formed in 2008 by local office building investor Jay Shidler as a publicly traded company with the goal to grow into a giant office property owner, has struggled financially for several years as it tried to expand during an economic downturn. Instead, it has largely relied on selling assets to survive amid financial losses.

At one time Pacific Office owned 24 properties. Most of those have been sold or lost to foreclosure. The company’s portfolio comprises 10 office properties, of which four are wholly owned and in Honolulu: Waterfront Plaza, Davies Pacific Center, the Pan Am Building and Clifford Center. The other six are owned through joint ventures.

As of Sept. 30, Pacific Office reported that its portfolio of office space was 76 percent leased. That was unchanged from a year ago. The company’s wholly owned Honolulu buildings were 86 percent leased.

Pacific Office reported a net loss of $4.4 million in the July-September quarter on revenue of $11.9 million, which was an improvement from a $12.8 million loss on revenue of $11.4 million in the same period last year.

The main reason for the change in net income was an unusual $8.7 million expense in the year-ago quarter triggered by Pacific Office selling First Insurance Center on Ward Avenue in 2012.

The $8.7 million satisfied an obligation to pay for the loss of certain tax benefits incurred by a Shidler company that contributed First Insurance Center and other buildings to establish Pacific Office.

Shares of Pacific Office stock closed at 25 cents Monday, the last time it traded.

That was up from 20 cents Nov. 7 when the financial report was filed. Shares over the past 52 weeks closed as high as 42.5 cents Nov. 27 and as low as 13 cents Oct. 29.