123 Mission Street, sometimes referenced as the Pacific Gas & Electric Building, is a 29 floor

skyscraper A skyscraper is a tall continuously habitable building having multiple floors. Most modern sources define skyscrapers as being at least or in height, though there is no universally accepted definition, other than being very tall high-rise bui ...

in the SOMA neighborhood of

San Francisco San Francisco, officially the City and County of San Francisco, is a commercial, Financial District, San Francisco, financial, and Culture of San Francisco, cultural center of Northern California. With a population of 827,526 residents as of ...

California California () is a U.S. state, state in the Western United States that lies on the West Coast of the United States, Pacific Coast. It borders Oregon to the north, Nevada and Arizona to the east, and shares Mexico–United States border, an ...

, completed in 1986. The tower was developed by Shorenstein Properties and designed by

Skidmore, Owings & Merrill SOM, an initialism of its original name Skidmore, Owings & Merrill LLP, is a Chicago-based architectural, urban planning, and engineering firm. It was founded in 1936 by Louis Skidmore and Nathaniel Owings. In 1939, they were joined by engineer ...

. 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

. It was owned by Northwood, LLC, which acquired it for $300 million from the Chinese insurance company,

HNA Group HNA Group Co., Ltd., was a Chinese conglomerate (company), conglomerate headquartered in Haikou, Hainan, China. Founded in 2000, it was involved in numerous industries including aviation, real estate, financial services, tourism, logistics, and ...

in 2018.

Juul Juul Labs, Inc. (, stylized as JUUL Labs) is an American electronic cigarette company headquartered in San Francisco. Its flagship product is the Juul electronic cigarette, which Construction of electronic cigarettes, atomizes nicotine salts d ...

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 ''Forbes'' () is an American business magazine founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes. The co ...

'' (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 ''Business Insider'' (stylized in all caps: BUSINESS INSIDER; known from 2021 to 2023 as INSIDER) is a New York City–based multinational financial and business news website founded in 2007. Since 2015, a majority stake in ''Business Inside ...

'', 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"
''

'', 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 American City Business Journals, Inc. (ACBJ) is an American newspaper publisher based in Charlotte, North Carolina. ACBJ publishes ''The Business Journals'', which contains local business news for 44 markets in the United States with each market ...

'', 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"
''

'', Dawn Kawamoto and Blanca Torres (November 21, 2019) As of May 2023, during what the

San Francisco Chronicle The ''San Francisco Chronicle'' is a newspaper serving primarily the San Francisco Bay Area of Northern California. It was founded in 1865 as ''The Daily Dramatic Chronicle'' by teenage brothers Charles de Young and M. H. de Young, Michael H. ...

described as "Downtown San Francisco sworst 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."Juul Just Bought A 28-Story Office Tower On Mission Street Worth an Estimated $400 Million"
, '' SFist'', Jay Barmann (June 18, 2019)

References

External links

{{Buildings in San Francisco, state=collapsed Office buildings completed in 1986 Skyscraper office buildings in San Francisco Skidmore, Owings & Merrill buildings South of Market, San Francisco

History

Features

See also

References

External links