Yet Another Tough Commercial Real Estate Moment in the S.F. Bay Area

Posted by Expert Gadget Reviewer on Friday, 17 July 2009

In yet another sign of the challenging San Francisco Bay Area Commercial Real Estate Market, three buildings in the illustrious Watergate Towers building complex in Emeryville appears to be going into foreclosure.

According to a story in the Contra Costa Times, 1900 Powell Street, 2000 Powell Street, and 2100 Powell Street are in default. For those of us in and around the East Bay and San Francisco, Watergate is a marquee address with beautiful views of San Francisco and the Bay.

One more time, the relevance of this subject to Sam Clar, CSG, and other providers in the commercial interiors industry is the opportunity for a new owner to re-set rents to the current "lower" market rate, which will encourage prospective tenants to move, which in turn creates new project opportunites for industry providers. Painful but necessary transitions taking place.