Case in Point of Huge Office Building Devaluation Since Pre-Covid in San Francisco

Even with Ai companies taking down millions of square feet of San Francisco Class A office space, the 123 Mission Street office building in the financial District of San Francisco was purchased by Juul I June 2009 for $397 million, a hefty $1,093/sf, to accommodate the rapid growth of its vaping business. This 363,000 square foot Class A office building had its debt just purchased for around $90 million, which is about $250/sf.