Houston-based Hines, which earlier this month disclosed that it is selling the site of its largest project in San Francisco, has halted its largest office project in Downtown Oakland.
Hines was planning to build a 39-story office tower—it would have been the tallest office tower in the East Bay—at 415 East 20th Street in Oakland.
The developer has decided not to move forward with the project at this time because it is "not economically feasible" to develop under current market conditions, TheRealDeal reported.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
