SOLD
Hudson Pacific Properties Acquires Office Building From Canada Pension Plan Investment Board
1455 Market Street
Office
Sold 13 days ago
Summary
Sale
CALIFORNIA
Office
An office building located at 1455 Market Street in San Francisco was sold in a transaction on 05/06/2024. The property was purchased by Hudson Pacific Properties from Canada Pension Plan Investment Board for a total of $43,500,000. The building spans 1 million square feet and is situated in the San Francisco market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $43,500,000
- Address: 1455 Market Street
- Market: San Francisco
Victor Coleman, representing Hudson Pacific Properties, was the buyer in this deal. The seller, Canada Pension Plan Investment Board, sold its 45 percent stake in the office building. Despite the significant drop in value from its previous valuation in 2015, Hudson Pacific Properties intends to lease and eventually sell the property, showing confidence in the long-term demand for office space in San Francisco.
Details
SOLD
IMAGE: 05/06/2024
ADDRESS: 1455 Market Street
MARKET: San Francisco
ASSET TYPE: Office
BUYER: Victor Coleman - Hudson Pacific Properties
SELLER: Canada Pension Plan Investment Board
SALE PRICE: $43,500,000
NOTE: Hudson Pacific Properties has acquired its partner's 45 percent stake in a 1 million-square-foot office building at 1455 Market Street in San Francisco for $43.5 million, representing a significant drop in value from its previous valuation of nearly $500 million in 2015. This buyout underscores the challenges facing San Francisco's office market, with record vacancy rates and declining rents, prompting discounted sales of office buildings in the area including Mid-Market. Despite market conditions, Hudson Pacific intends to lease and eventually sell the building, expressing confidence in the long-term demand for San Francisco office space.View on map
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Address1455 Market Street
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