901 Market Street
Posted on May 20th, 2012 ยท Posted in Acquisitions

Hudson Pacific Properties (NYSE:HPP) has agreed to acquire 901 Market Street for approximately $90 million. The historic building is located next to the Westfield Shopping Centre and features easy access to the Union Square BART entrance. The property consists of roughly 211,000 square feet with a 70/30 split of office and retail space. The space is currently around 62% leased and the transaction is expected to close around June 1.

Hudson Pacific’s portfolio contains just under 20 properties with about 4.4 million square feet of space throughout northern and southern California including Los Angeles, Orange County, San Diego and San Francisco.

This is the latest example of San Francisco’s property acquisition boom fueled by the performance of the commercial real estate market and deals will only continue to roll in as institutional investors aim to take advantage of the surging tech sector.

If you’re interested in acquiring commercial real estate in San Francisco, contact Synergy Real Estate Group today. We can help identify properties that represent good investment opportunities.

Source: Press Release