Premier Office commercial real estate news, analysis, trends and information including occupancy, rent, design, office space use and construction deals and players.
A mega-office sale consisting of 2100 Franklin St., 2101 Webster St. and 1900 Harrison St. near Lake Merritt, along with a parking structure at 2353 Webster St., sell to Starwood for more than $510 million.
The firm's plans for the property at 1221 Broadway include an office tower that would feature anywhere from 350,000 square feet to 500,000 square feet of office space.
The strongest driver to job growth is, of course, the tech sector and the San Jose MSA unemployment rate tumbled further in 2018, closing at 2.5% from 3.1%, compared to the higher national rate of 3.7%.
The new agreement extends United's existing lease to 2033. Blackstone is investing more than $500 million to transform the building from the inside out.