San Francisco office market collapse deepens as Juul's former headquarters sells for just 90 million dollars, a staggering 75 percent discount from its 397 million dollar purchase price in 2019. The 29-floor tower at 123 Mission Street now sits 87 percent vacant after the e-cigarette startup's legal troubles and business collapse forced it to abandon the space. Madison Capital and PGIM acquired the debt through foreclosure proceedings, marking another severe markdown in a market once considered America's hottest office sector. Meanwhile, AI companies flush with investor funding are beginning to lease large towers, potentially providing new tenants for San Francisco's struggling commercial real estate market as the city attempts recovery from years of pandemic-driven office abandonment and tech industry contraction.
