Office

Performance has depended on migration and job creation, but state and local policies have also had an impact.

It comes as the building could have 300,000 square feet of extra vacant space.

The sublease will first take effect on September 1, 2026.

Leasing revenue jumped 13% year-over-year, and capital markets services were up 15%.

The AI chip giant has scooped up another large campus next to its HQ in Silicon Valley.

The university is taking more than a million square feet.

Interest rates, weak demand, hybrid work, and rising vacancies created challenges.

Demand has pulled back after being one of the hottest office recovery markets in the country.