It's been two weeks since the state re-opened, and everything is just buzzing. The roads are packed, as are restaurants, bars, etc.
And it's not just the retail world that's buzzing. Here's a thoroughly bizarre (paywalled, unfortunately) article, with a thoroughly bizarre headline: Alameda office building shopping spree widens in tech hub.
A shopping spree for office buildings in the tech and biotech hot spot of Alameda has widened with the purchase of another property on the island city by a Bay Area developer.
With the latest deal, Paceline Investors has now spent $69.3 million over the last few days for three office buildings in Alameda, focusing on an area whose tenants are primarily advanced technology and life sciences firms.
The buildings are all located in Alameda’s Harbor Bay district, an area dotted with an array of companies with cutting-edge products and services.
Real estate firms have undertaken property purchases or launched development efforts that indicate they believe the Bay Area economy will be fueled by the expansion of tech, biotech, and advanced manufacturing companies.
That neighborhood is not far from where I live, and I ride my bike through there several times a week.
Indeed, there have been a lot of development efforts in this business park.
But the buildings are standing empty!
There are at least 10 large office buildings, brand new, completely vacant. Many were built during the COVID shutdowns, but a number of them were built as long ago as 2019 and have never found tenants. Other, existing buildings are dotted with "For Sale" and "For Lease" signs.
There are two buildings that are fully occupied and very busy:
Of course, neither of these are "advanced technology and life sciences firms".
But they sure make very good coffee and wonderful bread!
I definitely don't understand how the Real Estate development world works.