San Francisco’s Ferry Building is now under new ownership.
SF Chronicle reports that Blackstone Group has sold the rights to a 49-year ground lease on the landmark, tourist destination, and food hall to Hudson Pacific Properties and Allianz for $291 million. Hudson owns San Francisco tech buildings, including the headquarters of Uber, Square, and Google. Allianz, meanwhile, is a German insurance company.
While the property includes 192,531 square feet of office space, the Ferry Building is better known for its 75,486 square feet of retail, which is home to some of the Bay Area’s most famous food brands and restaurants, such as Blue Bottle Coffee, Cowgirl Creamery, the Slanted Door, Hog Island Oyster Company, Humphry Slocombe, and Dandelion Chocolate.
At this point, it’s unclear whether the new landlords plan to make any significant changes to the Ferry Building, including its popular CUESA farmers market and its many restaurant tenants.
Update 10/10/18: CUESA executive director Marcy Coburn sent Eater SF a statement to ensure the farmers market’s place at the Ferry Building: “CUESA and the Ferry Plaza Farmers Market are here to stay! This year, we renewed our lease for 10 years (through end of 2027), which will continue under the new property owners. This year we celebrate 25 years since the Ferry Plaza Farmers Market put up our first tents in front of the Ferry Building. The Ferry Plaza Farmers Market will continue to be our home, and we look forward to connecting San Franciscans and the greater Bay Area with local farmers and fresh, healthy food for years to come.”
- Control of San Francisco’s iconic Ferry Building sold for $291 million [SF Chronicle]
- Ferry Building [official]