Author: Agggregated News

SAN JOSE — A big San Jose office building has been seized by its lender through a foreclosure that serves up fresh evidence the Bay Area commercial real estate sector continues to wobble. The office building is located near the corner of North First Street and Montague Expressway, one of San Jose’s busy intersections and is perched next to a light rail line. East West Bank, the property’s lender, acted through an affiliate to seize ownership of the office building located at 3100 North First Street. The building, which once…

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Partytime Machines President/CEO Aimbrell Shanks on Friday, May 10, 2024, outside her company in Santa Clara, Calif. (Dai Sugano/Bay Area News Group) It is definitely not party time at Aimbrell Shanks’ Santa Clara rental company, PartyTime Machines. As at a great many Bay Area small businesses, inflation is not only driving expenses up, it is shrinking her market as consumers cut spending to cope with their own rising household costs. “I am not optimistic,” said Shanks, who in 2015 bought PartyTime — which rents out machines that dispense popcorn, churros, ice…

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There’s been much talk of a resurgent San Francisco with the new technology wave of artificial intelligence washing over the software world. Indeed, Crunchbase funding data as well as interviews with startup investors and real estate industry professionals show the San Francisco Bay Area has become the undisputed epicenter of artificial intelligence. Last year, more than 50% of all global venture funding for AI-related startups went to companies headquartered in the Bay Area, Crunchbase data shows, as a cluster of talent congregates in the region. Beginning in Q1 2023, when…

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SAN JOSE — A big San Jose office building has been seized by its lender through a foreclosure that serves up fresh evidence the Bay Area commercial real estate sector continues to wobble. The office building is located near the corner of North First Street and Montague Expressway, one of the city’s busy intersections. It is perched next to a light rail line. East West Bank, the property’s lender, acted through an affiliate to seize ownership of the office building located at 3100 North First St. The building, which once…

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