Canadian Pension Buys Part of Uber, Square HQ
Canada Pension Plan Investment Board will pay $219.2M for a 45% stake in 1455 Market St., a 22-story San Francisco office property, Key tenants in the building include tech standouts Uber and Square. LA-based Hudson Pacific acquired the tower in 2010 and will continue to manage and lease it. This marks the pension's first investment in SF, which real estate investment chief Peter Ballon called "one of the best-performing US office markets." Bloomberg notes that office rents there have surged 88% over the past five years according to JLL data.