Dave Rahardja<p>The slowly deflating <a href="https://sfba.social/tags/CommercialRealEstate" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>CommercialRealEstate</span></a> bubble continues. People are just not that interested to go back to the office.</p><p>This building in a suburban <a href="https://sfba.social/tags/SanJose" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SanJose</span></a> office park was occupied by Nio, the Chinese carmaker, who did not renew their lease in October 2023. Without a new tenant, the building went into foreclosure with $25M of outstanding debt. </p><p><a href="https://sfba.social/tags/cbre" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>cbre</span></a> <a href="https://sfba.social/tags/returnToOffice" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>returnToOffice</span></a> <a href="https://sfba.social/tags/remoteWork" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>remoteWork</span></a> <a href="https://sfba.social/tags/flexibleWork" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>flexibleWork</span></a></p><p>“Big San Jose office building is seized by lender as market wobbles”</p><p><a href="https://www.mercurynews.com/2024/05/13/san-jose-property-real-estate-office-build-economy-loan-foreclose-tech/" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">mercurynews.com/2024/05/13/san</span><span class="invisible">-jose-property-real-estate-office-build-economy-loan-foreclose-tech/</span></a></p><p>Unpaywalled: <a href="https://archive.ph/88aEk" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://</span><span class="">archive.ph/88aEk</span><span class="invisible"></span></a></p>