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San Francisco Mayor Proposes Turning Empty Offices Into Schoolrooms

San Francisco Mayor Proposes Turning Empty Offices Into Schoolrooms

by Phil Hall | Jul 19, 2023 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

San Francisco Mayor London Breed has a solution for the glut of empty offices in her city: turn them into classrooms. The San Francisco Business Times reported the mayor has called on the University of California, the San Francisco Unified School District and City...
Brookfield Returns NYC’s Historic Brill Building to Lender

Brookfield Returns NYC’s Historic Brill Building to Lender

by Phil Hall | Jul 18, 2023 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

The owner of one of the most iconic commercial properties in the history of popular music has returned the property to a lender. According to a GlobeSt.com report, Brookfield Asset Management (NYSE:BN) has returned the deed for New York City’s Brill Building to Mack...
Federal Government Has a Vast Surplus of Empty Offices in Washington

Federal Government Has a Vast Surplus of Empty Offices in Washington

by Phil Hall | Jul 17, 2023 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

The tumult facing the office property sector is impacting the U.S. government, as a new report from the U.S. Government Accountability Office (GAO) has identified widespread vacancies across federal properties. During the first quarter of this year, the GAO surveyed...
Nearly One-Third of San Francisco’s Office Properties are Vacant

Nearly One-Third of San Francisco’s Office Properties are Vacant

by Phil Hall | Jun 29, 2023 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

If you’re looking to lease office space in San Francisco, you have an excessive quantity of choices at your disposal. New data from the commercial real estate brokerage CBRE (NYSE:CBRE) determined 31.8% of San Francisco’s office properties were vacant during the...
Historic San Francisco Office Property in Mortgage Default

Historic San Francisco Office Property in Mortgage Default

by Phil Hall | Jun 16, 2023 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

Another prominent San Francisco property has become the subject of property owner defaulting on its mortgage. The San Francisco Business Times reported Swift Real Estate Partners defaulted on a $62.3 million loan for 55 New Montgomery St., a 111-year-old office...
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