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Huge Sunnyvale Tech Campus Is Bought As Bay Area Office Market Wilts

A huge Sunnyvale tech campus has been bought for roughly $100 million in a deal that shows weakness of the Bay Area
Silicon Valley 1:15 pm on June 10, 2024

The downtown San Jose office values have dropped due to recent property sales, raising questions about Tidewater Capital's strategy for their Sunnyvale office campus. The seven-building complex might see housing conversion as developers seek Bay Area properties for residential use amidst the Silicon Valley market's attractions and affordability challenges.

Property value decline: Downtown San Jose office values dropped, evidenced by recent property sales.
Tidewater Capital strategy uncertainty: Uncertainty surrounds Tidewater's approach to their Sunnyvale campus post-property purchases.
Housing development potential: Developers are proposing housing projects for existing Bay Area office buildings, addressing both market demand and affordability issues.
Market dynamics: The attractiveness of the Silicon Valley office market coupled with high property values prompts a reconsideration of land use.

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https://www.siliconvalley.com/2024/06/04/sunnyvale-tech-office-real-estate-property-south-bay-build-economy/

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Huge Sunnyvale Tech Campus Is Bought As Bay Area Office Market Wilts

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