Commercial Property Values All Across the Board

Yes, it is apples and watermelons, so this blog does not intend to compare one commercial sale with another, but only to point out we are seeing interesting pricing differentials depending on where in the Bay Area, what type of property and who the buyer is. As an example, Apple just paid$216 million, or  $811/sf cash to purchase 266,5000 sf of office buildings at 19319 and 19339 Sevens Creek Blvd. in Cupertino. In San Francisco, the Oceanwide Center development, which the prior owner had invested over $1 billion dollars in, is being sold at a 92% discount for $95 million. The City of San Franciso just purchased 1660 Mission Street, 108,500 sf,  for $170/sf, which had sold for $311/sf in 2027. There are boutique sub-markets and property types where there are hordes of cash-rich buyers just waiting for a commercial property to come to market, like Lafayette or Danville, or warehouses almost anywhere in Central Contra Costa as long as the clear height is 20’ of more…