Office

The Valley continues to experience record-setting economic expansion with a large development boom in North San Jose, downtown San Jose and Santa Clara, and San Francisco office vacancy sits at 7%.

Highland Capital Management has finalized the purchase of the class-A 42-story office Cityplace Tower building from a joint venture partnership between Parmenter Realty Partners and Angelo, Gordon & Co.

The new organizational structure will replace the existing operations that manage CBRE's services business within its existing geographic businesses—Americas, EMEA and APAC. That structure will remain in effect for the remainder of 2018.

As part of the deal, State Street affiliates and MetLife affiliates will co-lend each loan.

The CBD has become known as a magnet for top tech talent.

Phase one connects buses from AC Transit and WestCAT to/from the East Bay, and Greyhound and Amtrak Thruway buses with Muni service while phase two would bring in Caltrain and high-speed rail.

The company states that construction will start immediately after securing the building permit for the project that secured $2.7 million in performance-based tax credits from New York State through the Excelsior Jobs Program.

While serviced offices have been around for decades, the term coworking has become a buzzword during the last 10 years with very little metro level data available yet to track historically, says NAI Partners.