San Jose office buildings flop into default in weak real estate market
Economic challenges persist in the Bay Area office market, with two San Jose buildings facing loan delinquency.
Big San Jose office building heads to foreclosure after loan default
Seismic shifts in the Bay Area office market due to the pandemic have led to loan defaults and foreclosure proceedings.
The office building at 10 West Tasman Drive in San Jose is facing foreclosure due to delinquency on a $29 million loan.
Growing tech company officially buys Fry's Electronics San Jose site
Tech company Super Micro Computer has purchased a San Jose site for $80 million with plans to create a seven-building office campus.
The property was previously the location of a Mayan-themed Fry's Electronics store and was sold by Bay West Development.
The purchase comes at a time when many tech companies are reducing their office space due to economic challenges and job cuts.
Loan default for big Oakland office complex may trigger foreclosure
A large office complex in Oakland, The Landing, has defaulted on its mortgage, indicating ongoing economic challenges in the Bay Area office market due to the coronavirus pandemic.
The building was 82% leased at the time of its acquisition in 2019, but a combination of lockdowns and remote work has kept employees away from their offices.
Huge Sunnyvale tech campus is bought as Bay Area office market wilts
The Bay Area office market faces challenges despite continued real estate interest.