Positive spin on record-low office building sale prices …

6th July, 2011 - Posted by Jeffrey S. Weil, MCR.h, SIOR - No Comments

in Pleasanton the 96,000 square foot Birch Lakes just sold for around $98/square foot, down from the $200 – $230/square foot it would have gone for back in 2006 … the local brokers being the optimistic type of folks we are, call this a positive deal for the market, with hopes for corporate transplants coming from San Francisco and Silicon Valley to Pleasanton due to the very low comparative rental rates, great labor pool and numerous amenities … and with a purchase price this low the buyer can wait out the market and be aggressive in going after new tenancies …

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