#bay-area-office-market

#bay-area-office-market

Economic challenges persist in the Bay Area office market, with two San Jose buildings facing loan delinquency. [ more ]

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. [ more ]

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. [ more ]