Office Property Likely to Give Way to Multifamily

e9bf4 sf 39420 parkway Office Property Likely to Give Way to Multifamily Parkway Center is a two-story 71,742-square-foot multi-tenant office building that is 100% occupied.

FREMONT, CA—Further demonstrating the critical need for housing in the Bay Area, one property may eventually go from 100% occupied office building to a 100% occupied multifamily complex. The sale of Parkway Center, a two-story 71,742-square-foot office building, may pave the way for a potential redevelopment to multifamily, say sources close to the transaction. The buyer was The Stanley Group Inc. of Los Gatos, which purchased the asset for an undisclosed price.

Article source: http://www.globest.com/2018/06/11/office-property-likely-to-give-way-to-multifamily/

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