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123 Mission Street

Field	Value
name	123 Mission Street
image	123 Mission Street corner.jpg
caption	In 2021
former_names	Pacific Gas & Electric Building
location	123 Mission Street
San Francisco, California
coordinates
pushpin_map	United States San Francisco Central
completion_date	1986
building_type	Commercial offices
roof	124 m
floor_count	29
floor_area	100481 m2
architect	Skidmore, Owings & Merrill
structural_engineer	Skidmore, Owings & Merrill
developer	Shorenstein Properties
owner	Northwood, LLC
references

San Francisco, California

123 Mission Street, sometimes referenced as the Pacific Gas & Electric Building, is a 124 m 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."

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. Juul announced in June 2019 that it had purchased 123 Mission Street, while maintaining an existing space on Pier 70. The deal was "one of the largest in San Francisco history for a tech company that doesn't specialize in real estate." The building was worth an estimated $400 million.

In November 2019, Juul laid off 23 employees at its new 123 Mission Street Office and was considering selling the building, which it had acquired for $397 million.

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%.

Features

The tower is 28 stories, with 363,000 square feet of real estate.

References

"Emporis building ID 118727". [[Emporis]].
{{SkyscraperPage. 3062
{{Structurae. 20021842
(2018-05-29). "China's Debt-Ridden HNA Group Sells San Francisco Tower for $300 Million". Bloomberg.
[https://www.forbes.com/sites/kenrickcai/2019/06/18/in-battle-with-juul-san-francisco-becomes-first-city-to-ban-e-cigarettes/#1f8b05475668 "In Battle With Juul, San Francisco Becomes First City To Ban E-Cigarettes"], ''[[Forbes]]'' (June 18, 2019)
[https://www.businessinsider.com/juul-labs-reportedly-purchasing-downtown-san-francisco-high-rise-2019-5 "Juul, the San Francisco e-cigarette startup that city officials want to kick out, is trying to buy a 29-floor office tower in the heart of the city"], ''[[Business Insider]]'', Megan Hernbroth (May 1, 2009)
[https://www.businessinsider.com/juul-san-francisco-office-tower-reportedly-selling-2019-11 "Juul bought a San Francisco office tower for $400 million. It's reportedly considering selling it just 5 months later"], ''[[Business Insider]]'', Katie Canales (November 24, 2019)
[https://www.bizjournals.com/sanfrancisco/news/2019/11/25/juuls-massive-layoffs-include-245-workers-in-bay.html "Juul's massive layoffs include 245 workers in Bay Area"], ''[[San Francisco Business Times]]'', Dawn Kawamoto (November 25, 2019)
[https://www.bizjournals.com/sanfrancisco/news/2019/11/21/juul-contemplates-sale-of-its-recently-acquired.html "Juul contemplates sale of its recently acquired SoMa skyscraper"], ''[[San Francisco Business Times]]'', Dawn Kawamoto and Blanca Torres (November 21, 2019)
Li, Roland. (2023-05-08). "Downtown S.F. has 18.4 million square feet of empty office space. We mapped every vacancy".
[https://sfist.com/2019/06/18/juul-just-bought-a-28-story-soma-tower/ "Juul Just Bought A 28-Story Office Tower On Mission Street Worth an Estimated $400 Million"] {{Webarchive. link. (2019-06-19 , ''[[SFist]]'', Jay Barmann (June 18, 2019))

Info: Wikipedia Source

This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.

office-buildings-completed-in-1986 skyscraper-office-buildings-in-san-francisco skidmore,-owings-&-merrill-buildings south-of-market,-san-francisco

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