Many Berkeley rents are back to 2018 prices. Is new housing the reason? "Still, the question of precisely why the rental market has stabilized isn’t something we can answer from this data. Berkeley has not been alone in seeing its rental market soften over the past several years — once-soaring housing prices have leveled off in other Bay Area cities, including some without a building boom, and the tech industry and broader regional economy are no longer as white-hot as they were in the mid-2010s." (Berkeleyside)
S.F. sees yet another plan to redevelop historic movie theater. Will it actually get built this time? "For more than two decades, an ornate movie theater in San Francisco's Richmond District has sat vacant and crumbling. Developers have tried and failed for more than a decade to redevelop the Alexandria Theater site, struggling with political pressure to keep at least part of the theater intact while designing a project that adds residential and commercial space to the site." (San Francisco Chronicle)
What's up, Town? Everything is changing about Uptown Oakland — including its definition "“The goal for this whole area … is to attract people to come back, come out of the buildings, feel comfortable on the streets,” Wayland said, who oversees Holland's developments in Northern California. “We’re trying to curate a real experience." That vision joins a growing effort from developers, property owners and businesses to reposition a stretch of Oakland spanning Uptown and its adjacent subneighborhoods into a place where people want to live, work and shop — just as Uptown itself transformed Oakland's core, bringing excitement and an influx of developer activity." (San Francisco Business Times)
VA Signs Oakland’s Largest Office Lease Since 2021 "The U.S Department of Veterans Affairs has committed to 57,000 square feet at 1950 Franklin St. in Oakland, Calif., marking the biggest office lease in the city since 2021" (Commercial Property Executive)
LendingClub Buys San Francisco Offices for Its Headquarters "LendingClub Corporation, the parent company of LendingClub Bank, has agreed to acquire a 233,887-square-foot headquarters property located at 88 Kearny St. in San Francisco for $74.5 million. The seller was Nuveen." (Connect CRE)
Nvidia Buys 10-Building Office Campus in Santa Clara for $123MM (The Registry)
