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Historic downtown Oakland tower is returned to lender in feeble office market

Summary by Ground News
The Syndicate Building, an office tower at 1440 Broadway, is now in the hands of its lender. The office building, which totals about 89,500 square feet, was sold by a Tidewater Capital-led affiliate. The transaction provides clear indications that the value of the building has shriveled in recent years.

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The Mercury newsThe Mercury news
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Historic downtown Oakland tower is returned to lender in feeble office market

A historic downtown Oakland office tower that's described as the East Bay city's "original highrise" has been returned to its lender, fresh evidence of the worsening weakness in the Bay Area office market.

·San Jose, United States
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  • 100% of the sources lean Left
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The Mercury news broke the news in San Jose, United States on Tuesday, August 1, 2023.
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