Hines Atlas US has entered into an agreement to purchase PG&E’s San Francisco headquarters space for $800 million. PG&E is requesting approval from the California Public Utilities Commission to distribute between $390 million and $420 million in proceeds from the sale to PG&E customers over a five-year period with the goal of moderating rate increases. This is not expected to have an impact on the company’s 2021 equity position.

The company’s headquarters complex includes 77 Beale Street and 245 Market Street. PG&E will occupy a new, more affordable headquarters space in Oakland in the first half of 2022. The new location will consolidate the San Francisco office complex as well as two other offices at 3401 Crow Canyon Road in San Ramon and 1850 Gateway Boulevard in Concord. The change in headquarters location is a strategic move to help the firm fulfill its commitment to make changes to benefit customers long-term, including significant safety and operational investments.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.