Despite high-profile deals, high office vacancy rates haunt Bay Area’s three major downtowns
Sky-high office vacancy levels haunt Bay Area’s three major downtowns The Big PictureDowntown office markets across the Bay Area — including San Jose, San Francisco, and Oakland — remain stuck with vacancy rates above 30%, despite a wave of high-profile leasing activity driven largely by AI firms. A new report from Cushman & Wakefield shows […]
Is struggling hotel a bellwether for downtown San Jose?
Is struggling hotel a bellwether for downtown San Jose? – San José Spotlight The Big PictureSan Jose’s largest hotel — the Signia by Hilton downtown — may soon be put up for sale, creating a critical inflection point for the city’s recovery. The property, owned by BrightSpire Capital, has faced ongoing challenges since the pandemic, […]
OpenAI Leases 5-Building Mountain View Office Campus
OpenAI Leases 5-Building Mountain View Office Campus The Big Picture OpenAI has leased a five-building, 450,000-square-foot campus at 350–380 Ellis Street in Mountain View, marking a major expansion beyond its already massive San Francisco footprint. The campus, owned by KKR Real Estate Finance Trust and managed by TMG Partners, was recently repositioned with high-end amenities […]
Plans for a school come back into view for empty San Jose offices
Plans for large school come back into view for empty San Jose offices The Big PictureA vacant office building at 525 Race Street in San Jose could be converted into a private high school under a preliminary proposal from BASIS Independent Schools. The plan would reuse the three-story, 72,700-square-foot office building and add a 16,600-square-foot […]