123 Mission Street

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.

123 Mission Street
Location within San Francisco
Former namesPacific Gas & Electric Building
General information
TypeCommercial offices
Location123 Mission Street
San Francisco, California
Coordinates37.7919°N 122.3945°W / 37.7919; -122.3945
Completed1986
OwnerNorthwood, LLC
Height
Roof124 m (407 ft)
Technical details
Floor count29
Floor area100,481 m2 (1,081,570 sq ft)
Design and construction
ArchitectSkidmore, Owings & Merrill
DeveloperShorenstein Properties
Structural engineerSkidmore, Owings & Merrill
References
[1][2][3]

In 2018, Northwood Investors of New York bought the building $290 million."[4]

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]

Features

The tower is 28 stories, with 363,000 square feet of real estate.[4]

See also

References
  1. 123 Mission Street at Emporis
  2. "123 Mission Street". SkyscraperPage.
  3. 123 Mission Street at Structurae
  4. "Juul Just Bought A 28-Story Office Tower On Mission Street Worth an Estimated $400 Million" Archived 2019-06-19 at the Wayback Machine, SFist, Jay Barmann (June 18, 2019)
  5. "China's Debt-Ridden HNA Group Sells San Francisco Tower for $300 Million". Bloomberg. 2018-05-29.
  6. "In Battle With Juul, San Francisco Becomes First City To Ban E-Cigarettes", Forbes (June 18, 2019)
  7. "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)
  8. "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)
  9. "Juul's massive layoffs include 245 workers in Bay Area", San Francisco Business Times, Dawn Kawamoto (November 25, 2019)
  10. "Juul contemplates sale of its recently acquired SoMa skyscraper", San Francisco Business Times, Dawn Kawamoto and Blanca Torres (November 21, 2019)
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