Is Oracle Selling Part of Their Peninsula Office Building Portfolio Mean Worse is Going to Happen?
It is bad enough that San Francisco Bay Area corporations are putting leased space on the sublease market, packing up and moving part of their operations to Texas or elsewhere, but when major companies begin putting their office campuses on the ‘for sale’ market this is a much more serious sign of what might be coming. This week Oracle placed two office buildings in Belmont plus an office campus in Redwood City on the market for sale. Will other major corporations begin following suit? How long will this exodus of both large and small companies out of California to lower-cost areas take before municipalities begin reversing onerous taxation on business, and become competitive n offering relocation incentives (heck with relocation, just ‘ stay here’ incentives) to keep up with what is being offered in Tennessee, Texas and North Carolina?
