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123 Mission Street
Commercial offices in San Francisco, California From Wikipedia, the free encyclopedia
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123 Mission Street, sometimes referenced as the Pacific Gas & Electric Building, is a 124 m (407 ft) 29 floor skyscraper in the SOMA neighborhood of San Francisco, California, completed in 1986. The tower was developed by Shorenstein Properties and designed by Skidmore, Owings & Merrill.
In 2018, Northwood Investors of New York bought the building $290 million."[4]
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History
Completed in 1986, the tower was developed by Shorenstein Properties and designed by Skidmore, Owings & Merrill.
It was owned by Northwood, LLC, which acquired it for $300 million from the Chinese insurance company, HNA Group in 2018.[5] Juul announced in June 2019 that it had purchased 123 Mission Street, while maintaining an existing space on Pier 70.[6] The deal was "one of the largest in San Francisco history for a tech company that doesn't specialize in real estate."[7] The building was worth an estimated $400 million.[8]
In November 2019, Juul laid off 23 employees at its new 123 Mission Street Office[9] and was considering selling the building, which it had acquired for $397 million.[10]
As of May 2023, during what the San Francisco Chronicle described as "Downtown San Francisco['s] worst office vacancy crisis on record," 123 Mission Street had a vacancy rate of 89.9%.[11]
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Features
The tower is 28 stories, with 363,000 square feet of real estate.[4]
See also
References
External links
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