123 Mission Street, sometimes referenced as the Pacific Gas & Electric Building, is a 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."In Battle With Juul, San Francisco Becomes First City To Ban E-Cigarettes", Forbes (June 18, 2019) The deal was "one of the largest in San Francisco history for a tech company that doesn't specialize in real estate"."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) The building was worth an estimated $400 million."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)
In November 2019, Juul laid off 23 employees at its new 123 Mission Street Office"Juul's massive layoffs include 245 workers in Bay Area", San Francisco Business Times, Dawn Kawamoto (November 25, 2019) and was considering selling the building, which it had acquired for $397 million."Juul contemplates sale of its recently acquired SoMa skyscraper", San Francisco Business Times, Dawn Kawamoto and Blanca Torres (November 21, 2019)
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%.
As of March 2026, Madison Capital is talks to purchase the building.
Features The tower is 28 stories, with 363,000 square feet of real estate."Juul Just Bought A 28-Story Office Tower On Mission Street Worth an Estimated $400 Million" , SFist, Jay Barmann (June 18, 2019)
See also
List of tallest buildings in San Francisco
References
External links