Ferry Building Sold for $291 Million

Business

San Francisco’s Ferry Building is now under new ownership.

SF Chronicle reports that Blackstone Group has sold the rights to a 49-year ground lease on the landmark, tourist destination, and food hall to Hudson Pacific Properties and Allianz for $291 million. Hudson owns San Francisco tech buildings, including the headquarters of Uber, Square, and Google. Allianz, meanwhile, is a German insurance company.

While the property includes 192,531 square feet of office space, the Ferry Building is better known for its 75,486 square feet of retail, which is home to some of the Bay Area’s most famous food brands and restaurants, such as Blue Bottle Coffee, Cowgirl Creamery, the Slanted Door, Hog Island Oyster Company, Humphry Slocombe, and Dandelion Chocolate.

At this point, it’s unclear whether the new landlords plan to make any significant changes to the Ferry Building, including its popular farmers market and its many restaurant tenants.

Source

Leave a Reply

Your email address will not be published. Required fields are marked *