San Francisco's One Market Plaza tops the list of maturing office loans to watch this year, according to Trepp.
One Market Plaza comprises nearly 1.6 million square feet and is home to tenants like Google, Visa, and Morgan Lewis, which collectively account for more than 40% of the building's footprint. (Meanwhile, tenant Autodesk has put its space up for sublease.) The loan matures in February 2024 and has $975 million outstanding. The property was valued at $1.77 billion in 2016.
"A new loan would provide an important benchmark for the value of San Francisco offices," Trepp's Manus Clancy says.
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