Historic downtown Oakland tower is returned to lender in feeble office market

Historic downtown Oakland tower is returned to lender in feeble office market

a year ago
Anonymous $pUsIN4hzN9

https://www.siliconvalley.com/2023/08/01/oakland-downtown-office-tower-history-loan-weak-real-estate-economy/

OAKLAND — A historic downtown Oakland office tower that’s described as the East Bay city’s “original highrise” has been returned to its lender, a fresh indicator of the worsening weakness in the Bay Area office market.

The Syndicate Building, an office tower at 1440 Broadway, is now in the hands of its lender, a disquieting hint that economic maladies linger for the region’s feeble office sector in the wake of the coronavirus outbreak.