Downtown Mountain View real estate deal hints at wobbly office market

MOUNTAIN VIEW — An office building real estate deal in downtown Mountain View with a price that’s below its prior purchase value hints at a wobbly office market amid widening layoffs in the tech sector.

An affiliate that’s linked to a unit of banking behemoth JPMorgan Chase has paid $36 million for an office building situated in a prime stretch of downtown Mountain View, according to documents filed on Feb. 15 at the Santa Clara County Recorder’s Office.

The JPMorgan Chase unit bought the building in an all-cash deal, the county documents show.

The building totals about 56,000 square feet, according to a market brochure being circulated by CBRE commercial

→ Continue reading at Silicon Valley

More from author

Related posts

Advertisment

Latest posts

It’s Near-Impossible to Snag a Reservation at This VIP-Filled Italian Restaurant — But Now It’s Dropping a Merch Line for All Red Sauce Lovers

Rao's Homemade wants its customers to be comfortable while eating comfort foods this winter.The Italian food brand is releasing a limited-edition velour tracksuit inspired...

‘If you have a face, you have a place in the conversation about AI,’ expert says

Enlarge this image Penguin Random House ...

5 Types of Professional Losses Companies Commonly Face — and How to Mitigate Each One

Opinions expressed by Entrepreneur contributors are their own. In the complex world of business, companies often face various forms of professional loss...