California Focus: Pressure builds for more office building conversions ...Middle East

Ukiah Daily Journal - News

Almost no one wants office buildings these days, either to build them or buy them. In downtown San Francisco, the April sale of an empty 16-story office structure on lower Market Street brought just $6.5 million, less than the price paid for hundreds of California single family homes last year. That was 90 percent below the $65 million price the same building brought in 2016, the last time it changed owners. In the Arts District of Los Angeles, a fast-developing trendy area just east of downtown, plans to build a 10-story office structure containing many “creative spaces” were cancelled a month later by New York real estate developer Tishman Speyer. It’s the same all over the country, from M

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Last updated : 05 July 2024 clock 08:05 AM

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California Focus: Pressure builds for more office building conversions ...Middle East

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