Real Estate - SEPTEMBER 21, 2021

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Hines and NPS lead more than $2.5b bet on San Francisco

by Andrea Zander

Hines and the National Pension Service of Korea (NPS) has acquired the historic Pacific Gas & Electric Company (PG&E) campus in the South Financial District in downtown San Francisco.

Hines and its partner NPS, through a global build-to-core mandate, will completely reimagine and breathe new life into this irreplaceable, transit-oriented location over an entire city block. Upon completion, the PG&E campus will represent the largest deal along Market Street in San Francisco in the past 10 years and deliver two next generation office projects totaling approximately 1.6 million square feet and a future multifamily component.

The first of the two office projects will consist of the restoration and renovation of a 600,000-square-foot office complex dating back to the early 1900s. Hines plans to honor the building’s history and architectural integrity while elevating the office experience to trophy historic product quality. Hines will retain the historic archit

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