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Align to redevelop four-acre Fillmore site, city hoping to replace grocery.
Eighty buildings now charge $100-plus, led by One Vanderbilt at $247 per SF.
VTS says physical office tours are down 47% as prospective tenants go digital.
The giant pension could borrow 10% of its $318 billion portfolio value and change its long-term CRE asset allocation by a third.
San Francisco was the only market to see occupancy increase during the year.
The reasons behind the decline are well known to the apartment industry.
Industrial and office categories dropped the most.
Office will top its historical peak in 2025 while self-storage seems the safest bet.
Theses buildings must be highly energy efficient, free of onsite emissions from energy use, and powered by clean energy.
Plan to build condo tower at site opposed by A-list celebrities urging preservation.