Strada is set to purchase the 18-story office tower at 201 Spear Street in San Francisco’s Financial District. The reported price is just 57% of what KBS Realty Advisors paid for in 2013. The price per square foot puts the deal within the existing range of sales in the region’s struggling post-pandemic office market.
New plans have been revealed for a $2 billion research center run by UC Berkeley at the NASA Ames Center in Mountain View, Santa Clara County. The Berkeley Space Center, as it will be called, will reshape 36 acres on the sprawling Ames Research Center, providing a hub for future companies to collaborate with the school and NASA scientists & engineers to improve technology for aviation, space exploration, and how people live and work in space.
New leasing activity has come for Bay West Development’s 550 East Brokaw Road property in San Jose, Santa Clara County. Supermicro Computer, a San Jose-based information manufacturing firm, has signed a new lease for just over 124,000 square feet. Bay West has yet to reply to a request for comment.
Construction has topped out for the five-story affordable Belmont Village Senior Living at Bishop Ranch 1A in San Ramon, Contra Costa County. The project, addressed at 6151 Bollinger Canyon Road, is the first in a massive 600-acre masterplan led by Sunset Development to transform a car-oriented office campus into a walkable city with 4,500 homes, parks, and shops. Belmont Village Senior Housing is the project sponsor, and Sunset Development is the property owner.
The 22-story office tower at 350 California Street in San Francisco’s Financial District has been sold for $61 Million, less than a quarter of the initial asking price. The property was sold by Mitsubishi UFJ Financial Group to the joint venture of Swig Company and SKS Partners.
