UBS’ Market Street Offices Back on Market

UBS Realty Investors is putting a South of Market office tower back on the market nearly five years after first trying to find a buyer.

The Connecticut-based firm has relisted 455 Market Street, a 23-story office building in the Financial District, the San Francisco Business Times reported. UBS is purportedly seeking to offload the 374,200-square-foot property in the upper-$300-per-square-foot range, which would likely peg the building’s value between $130 million and $139 million, per Bisnow. Eastdil Secured is marketing the building.

It’s the second time UBS has tried to sell 455 Market Street. In 2022, the company listed the building for sale for roughly $750 per square foot, or about $280 million. It pulled the tower off the market when offers failed to meet that pricing guidance.

The listing comes as San Francisco’s office market appears to be on an upswing while still facing vacancy headwinds. San Francisco saw net absorption of 2.3 million square feet in the first quarter, indicating strong demand for space across the city, according to CBRE’s first quarter report. At the same time, the city is dealing with an elevated vacancy rate of 30.4 percent, continuing the downward trend from 32.8 percent in Q4 2025, which itself was down quarter-over-quarter, per CBRE’s fourth quarter report.

The 455 Market building is roughly 70 percent occupied, aligning with the citywide vacancy rate. Hinge Health is the anchor tenant in the building, taking up about 53,000 square feet, though that lease is set to expire in September 2027. The company is looking to expand to between 80,000 and 100,000 square feet, though it is not clear if it intends to stay at 455 Market, according to the Business Times.

The year is off to a strong start for Class A office properties. Institutional investors and private capital spent nearly $1.3 billion on 2.5 million square feet of office space in the city in the first quarter, representing the fastest sales pace for office properties in years, according to Bisnow. A large chunk of that transaction activity includes Yoda PLC’s acquisition of the Transamerica Pyramid for $692 million.

— Chris Malone Méndez