In some posts last year, I’d mentioned how the once extremely sought after street addresses for tech companies in San Jose had emptied over the years. This trend, by the way, started even before Covid.
Many of these tech office buildings, that got converted into apartments and hotels, survived.
It is not without reason that Levi’s stadium, home of the SF 49ers, is where it is located today.

And this is a huge reason why the state of California is in fiscal deep doo doo right now.

https://www.msn.com/en-us/money/companies/owner-of-san-jose-office-building-headed-for-foreclosure-goes-bankrupt/ar-BB1lt5lf?ocid=msedgntp&pc=LCTS&cvid=f41426a0805341ffa5e452c1f7c9542f&ei=12

By the way, the above building still shows as Cisco Building O (O as in Oyster) in a Google map search. For the outsiders, Cisco at one time had 35+ buildings in a campus spread over 3-4 mile radius in San Jose and Milpitas. I think they now have 10-15 buildings remaining. And this building is located less than 2 miles from the SF 49ers stadium, aka Levi’s stadium. So it is a very prime location.

There’s no way out: a CRE bailout meaning a bailout of the big banks. The Fed will print money even though it won’t cut rates.

GL