Very interesting article in WSJ today about the tower at 350 California St in San Fran, a bank home office (until they punted recently). As recently as '19 the value estimate was $300 million. Now? They’ll be lucky to get $60 million for it. As well, sublessors are getting barely enough rental rates to keep the utilities on
Office commercial real estate is going to be “generally” weak for a while, this time.
FC