San Jose office building lands in default, faces foreclosure seizure

San Jose office building lands in default, faces foreclosure seizure

a year ago
Anonymous $pUsIN4hzN9

https://www.siliconvalley.com/2023/07/25/san-jose-tech-real-estate-office-default-foreclose-economy-build-covid/

SAN JOSE — A big San Jose office and research building has toppled into a default on its real estate loan in a reminder the Bay Area commercial property markets face plenty of post-coronavirus financial challenges.

The property’s lender claims that the loan for the building, which is located at 5729 Fontanoso Way in south San Jose, has become delinquent and is threatening to foreclose on the mortgage and seize the property, according to documents filed on July 18 with the Santa Clara County Recorder’s Office.