UBS Relists 455 Market St. As Bay Area Office Trades Pick Up Steam
UBS Realty Investors is bringing its office tower at 455 Market St. back to market, the second time in nearly four years UBS has attempted to offload the 23-story building in the heart of San Francisco’s Financial District.
UBS is seeking close to $400 per SF, the San Francisco Business Times reported, citing an anonymous source. That price per SF would value 455 Market St. at approximately $130M to $139M.
Eastdil Secured is marketing the building for UBS, the Hartford, Connecticut-based investment branch of Swiss investment bank UBS AG. UBS has owned 455 Market since the building was completed in 1987.
UBS listed the 347K SF building for sale for about $750 per SF, or approximately $260M, in summer 2022, according to the SFBT.
Despite net absorption of 2.3M SF in Q1 2026, San Francisco’s office market still has an overall vacancy rate just north of 30%, CBRE reported. Those dark floors are keeping office tower values well below their pre-pandemic highs, prompting institutional capital to reenter San Francisco's office market.
Institutional investors and private capital pumped $1.27B into 2.5M SF of Class-A office properties in San Francisco in the first three months of the year, highlighted by Yoda PLC’s acquisition of the Transamerica Pyramid for $692M, CBRE reported. It's the briskest sales pace for office properties in years, the SFBT noted.
UBS’ Market Street tower is about 70% occupied and lists Hinge Health as a primary tenant across 53K SF, though Hinge Health’s lease is set to expire in September 2027, according to documents filed with the Securities and Exchange Commission.
Hinge Health seeks to expand its office footprint to 80K to 100K SF, though it's unclear if the company will stay at 455 Market or seek space elsewhere, the SFBT reported.
