Hudson Pacific Wins Approval for 162,000 SQFT Housing Conversion at 901 Market Street in San Francisco
Why this matters
Retail has become a quiet outperformer. A decade of effectively zero new development has left necessity-driven, grocery-anchored, and Sun Belt strip product with negligible vacancy and re-leasing spreads in the high single digits. Cap rates have compressed in step, and the bid for stabilized portfolios is again broad across REITs, pension funds, and institutional core-plus capital. San Francisco continues to clear office at the deepest discounts to 2019 basis seen in the cycle, while multifamily fundamentals have stabilized and life sciences in the Peninsula remains active. The asset class has effectively rerated as a defensive yield trade rather than a secularly challenged sector.
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On the RET wire
- The 122nd San Francisco story tracked on the wire in October 2026. All San Francisco coverage →
- Disclosed retail deal value tracked in October 2026: $11.1B across 80 reported transactions. All Retail coverage →
- 10 stories mentioning Hudson Pacific on the wire in the past 90 days. Hudson Pacific coverage →
Computed from Real Estate Trail’s own tracked coverage
San Francisco approves Hudson Pacific’s plan to convert 901 Market Street’s offices into 162,400 SF of housing above 76,370 SF of retail. The post Hudson Pacific Wins Approval for 162,000 SQFT Housing Conversion at 90…
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