A big San Jose office building is headed for a potential foreclosure.
SAN JOSE — A big office building in San Jose is nearing a foreclosure proceeding and seizure by its lender, according to Santa Clara County property documents.
Now, real estate officials are pushing forward with a foreclosure proceeding this month to allow the property to be auctioned off to a bidder or returned to its lender to satisfy the unpaid debt. At the same time, tech companies slashed their appetites for office space, trimmed their property footprints and embarked on layoffs.
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