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Report: Wells Fargo to Sell San Francisco Office Tower at Severe Discount

Report: Wells Fargo to Sell San Francisco Office Tower at Severe Discount

by Phil Hall | Jun 15, 2023 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

Wells Fargo (NYSE:WFC) is completing a deal to sell a downtown San Francisco office property at a fraction of what it paid two decades ago. CoStar News, sourcing its coverage from unnamed “people with direct knowledge of the deal,” reported the 355,000-square-foot...
Fitch Ratings Warns Commercial Real Estate Risks Are Not Limited to Office Properties

Fitch Ratings Warns Commercial Real Estate Risks Are Not Limited to Office Properties

by Phil Hall | May 23, 2023 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

While the office property sector has generated a surplus amount of attention from anxious lenders and investors, a new warning from Fitch Ratings insisted the risks from higher interest rate encompasses the wider commercial real estate (CRE) market. “The roughly $3...
NYC Officials Seeking Vacant Office Properties to House Illegal Immigrant Influx

NYC Officials Seeking Vacant Office Properties to House Illegal Immigrant Influx

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

New York City officials have begun to hunt through real estate listings for vacant office space in an attempt to find available shelter for the growing number of illegal immigrants that are being relocated into the city following the termination of Title 42. The New...
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