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45% Interest of 1455 Market St. Moves for $219M

SAN FRANCISCO—A long-planned repositioning and expansion of the ground-floor retail to target high-end retail and restaurant users will commence in early 2015.

By Natalie Dolce | Updated on January 08, 2015

SAN FRANCISCO—Canada Pension Plan Investment Board and Hudson Pacific Properties Inc. have formed a joint venture through which CPPIB will purchase a 45% interest in 1455 Market St. from Hudson for $219.15 million before closing adjustments. Hudson, which acquired the property in December 2010, retains a 55% ownership stake along with General Partner status, and will continue to oversee management and leasing. 

1455 Market Street is a 1-million-square-foot 22-story class-A office building that fronts an entire block along 11th Street in the City’s Mid-Market neighborhood.

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