East Bay office complex lands buyer at discount as values fall

CONCORD — A Concord office complex that was shoved into receivership due to its failed loan was bought at a discount, suggesting regional commercial real estate values remain locked in a nosedive.

Two office buildings on Grant Street were purchased for $45.3 million, documents filed on Feb. 10 with the Contra Costa County Recorder’s Office show.

Office building at 1755 Grant Street in Concord. (Google Maps)

That is a 69% plunge from the $146.1 million that the sellers paid in 2018...