#bay-area-office-market
#bay-area-office-market
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#foreclosure #commercial-real-estate #mountain-view #zappettini-capital #terra-bella-tech-park #santa-clara
fromwww.mercurynews.com
1 month ago$210 million South Bay tech campus purchase points to weaker values
The $210 million price is roughly half, or 47.7% below, the property's assessed value of $401.9 million. The new owners paid 31.2% less than the $305.1 million that the seller, Clarion Partners, paid for the site in 2015. The deal shows that even the presence of tech company Applied Materials as a tenant doesn't guarantee immunity from the economic maladies that have come to afflict the Bay Area office market.
Real estate
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