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February 21, 2018  

PGIM Shows SF Offices With Upside

PGIM Real Estate is pitching a Class-A office building in San Francisco as a leasing play.The 203,000-square-foot property, at 101 Mission Street, could attract bids of $745/sf, or $151 million. At that valuation, the buyer’s initial annual yield would be 4.25%. HFF is representing PGIM, of Madison, N.J.The occupancy rate is only 80%, well below the 92.3% average for Class-A space in the surrounding South Financial submarket.A buyer could...

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