Cities Face Cutbacks as Commercial Real Estate Prices Tumble – The New York Times

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In San Francisco, a 20-story office tower that sold for $146 million a decade ago was listed in December for just $80 million. In Chicago, a 200,000-square-foot-office building in the city’s Clybourn Corridor that sold in 2004 for nearly $90 million was purchased last month for $20 million, a 78 percent markdown. And in Washington, a 12-story building that mixes… Read More

Salesforce Sheds 700K sf of Offices in San Francisco – The Real Deal

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Salesforce, San Francisco’s largest private employer, has stepped into a smaller pair of real estate shoes. The locally based software giant has shrunk its footprint by 45 percent to 900,000 square feet of offices in January, from 1.6 million square feet a year earlier, the San Francisco Business Times reported, citing a March regulatory filing with the Securities and Exchange… Read More

Real Estate Law Firm Expands to 32K SF at 1325 Avenue of the Americas – Commercial Observer

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Real estate legal services firm Cole Schotz is keeping its feet firmly planted at the Paramount Group’s 1325 Avenue of the Americas. The tenant, which has been in the building since 2016, signed a lease extension with an additional 8,000 square feet from its original 24,000-square-foot workspace. That will bring its total footprint to 32,128 square feet across the 19th… Read More

YIMBY Interview with Paul Paradis of Bayhill Ventures – San Francisco YIMBY

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Bayhill Ventures debuted last November with eye-catching plans for a new residential skyscraper in San Francisco during a period where most significant projects are on hold across the region. Last month, Bayhill’s founder and CEO, Paul Paradis, sat down with YIMBY to discuss the ambitious plans for 530 Howard Street, his reason for starting a new firm, and his optimism… Read More

Adyen Signs Sublease for Former Pinterest Offices in SF – The Real Deal

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Fintech company Adyen has signed a long-term sublease for 150,000 square feet in San Francisco, taking over the former Pinterest offices at 505 Brannan Street, the biggest office deal so far this year. The deal had been rumored last month, but was confirmed by Adyen in a press release on Wednesday.  The Dutch payment company employees about 2,000 people worldwide,… Read More