CFAH

555 Mission at Night
Having leased the 14,718 square foot penthouse atop 555 Mission Street for seven years at a rate of $84 per square foot in 2008, in 2009 Sequoia Capital subleased the penthouse to Novak Druce Quigg for the remainder of their lease at a 40 percent discount ($50 per square foot) without escalation.
As plugged-in people know, Sequoia had “intended to use this space for creating a new public securities investment fund, not for making SF-based VC investments.”
With 555 Mission now 88 percent occupied, Union Investment is in contract to buy the building for $445 million, or $800 a square foot, “the highest price paid for a downtown San Francisco building since Morgan Stanley Real Estate bought One Market Plaza for $925 a square foot…in 2007.”
555 Mission: Sequoia’s Penthouse Sublease At 40 Percent Off [SocketSite]
Tishman to sell 555 Mission for $445M [Business Times]

Comments from Plugged-In Readers

  1. Posted by wrath

    that penthouse is always nicely lit up at night – I always wondered who lives there;

  2. Posted by sf

    Hopefully transbay tower will begin construction soon- everything seems to be in its favor.

  3. Posted by gellan

    ^^^Lately, I’ve heard some people saying Hines is planning on delivering the Transbay Tower sometime in 2015, but the last article I read said 2016. We’ll see…We still need the new Transbay zoning to be approved before anything can happen.

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