Compared to pre-pandemic 2019, California office-space buyers pent 24% less than 2019 in 20% fewer deals involving 26% less space sold.
, looking at last year vs. 2019. This data is one indicator one when workplace life returns to the water-cooler routine.So what’s the thinking behind the $22 billion spent in 2021 on 373 large California office properties for a total 49 million square feet?
That’s serious cash and lots of hallways, cubicles, break rooms and meeting spaces in towers, mid-rises and office parks. But compared with pre-pandemic 2019, that $22 billion was a 24% drop in investment dollars for 20% fewer deals involving 26% less office space.
But these office investment trends are by no means universal across the state. Look at what markets had the most relative investment interest in office space last year, as measured against 2019 levels …It says a lot when the place with the largest investment growth has only a 1% share of all sales. Investors bet $211 million on 12 office properties with 1.3 million square feet last year. That’s 40% more investment; 8% fewer deals; and 52% more space sold vs. 2019.
Coleman Highline, a San Jose work hub for search engine Yahoo! — bought by AGC Equity Partners from Hunter Properties. Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The 50 highest-paying jobs in N.J. that don’t require a college degreeLooking for a career change, but don't want to go back to school?
Read more »
Every Celebrity That Has Announced a Beauty Brand in 2022Lots of celeb-backed skin care coming your way soon:
Read more »
Don’t look back Donald, Ronald is gaining on you | MulshineOver the past days, two likely contenders for the 2024 Republican presidential nomination gave speeches to the annual Conservative Political Action Conference. The straw poll showed that Florida Governor Ron DeSantis is gaining ground on former president Donald Trump
Read more »
Lawmaker's CBD Enterprise Forced to Pay Back $144K to Investors After State InvestigationState Sen. Patricia Van Pelt’s embattled CBD business has paid back more than $144,000 to investors as part of a settlement agreement stemming from an investigation by the Illinois secretary of state’s office, the Chicago Sun-Times has learned.
Read more »
The Fed's historic error on inflation in 2021 keeps delivering more bad monetary policyAs soon as the Fed figured out inflation wasn't going to be transitory, it should have reversed course immediately by ending QE and moving to raise rates.
Read more »