Lender seizes big San Jose office building in grim sign of market woes
https://www.siliconvalley.com/2024/10/08/san-jose-tech-office-build-develop-property-real-estate-economy-loan/
SAN JOSE — A big office building in San Jose has been seized by its lender, despite a bankruptcy case that sought to ward off the foreclosure, in a sign of weaker property values and forbidding market conditions.
The lender for the building at 10 West Tasman Drive in north San Jose has grabbed the property at a price that points to a nosedive in the office site’s value, according to documents filed on Oct. 4 with the Santa Clara County Recorder’s Office.
Lender seizes big San Jose office building in grim sign of market woes
Tue Oct 8, 4:21pm UTC
https://www.siliconvalley.com/2024/10/08/san-jose-tech-office-build-develop-property-real-estate-economy-loan/
> SAN JOSE — A big office building in San Jose has been seized by its lender, despite a bankruptcy case that sought to ward off the foreclosure, in a sign of weaker property values and forbidding market conditions.
> The lender for the building at 10 West Tasman Drive in north San Jose has grabbed the property at a price that points to a nosedive in the office site’s value, according to documents filed on Oct. 4 with the Santa Clara County Recorder’s Office.