San Jose office building may dodge foreclosure with bankruptcy plan
SAN JOSE — A big north San Jose office building might dodge foreclosure if a federal judge approves a bankruptcy plan that’s being floated to reorganize the empty property’s feeble finances.
Despite the attempt at financial rescue, property values for office buildings continue to erode in the Bay Area, court papers filed in this bankruptcy case suggest.
The default and bankruptcy are reminders that economic conditions in the years following the coronavirus outbreak remain wobbly at best for office buildings in the Bay Area.
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