bought a former 30,000-square-foot building and plan to turn it into an office building.
Image source: Flickr CC user Bart Everson On the steps of county courthouses, investors show up at foreclosure auctions with cash in hand and put in bids for hotels, strip malls, and other foreclosed commercial property. Others sit across a desk from hard-nosed bankers and haggle over a price. Sometimes these deals turn out to be a steal. But sometimes...
Image source: Flickr CC user Marcin Wichary With ever-expanding California tech companies like Google and Facebook here in our backyard, itâ€™s easy to forget that U.S. firms recently shed more office space than at any point in recent times. After the recession kicked in, tenants began pulling out of office space, with office vacancy rates reaching 17.4 percent in the second quarter of 2010. Thatâ€™s the highest vacancy rate since 1993.
Image source: Flickr CC user U.S. Army Environmental Command I've just read a story about a nice church with a bad environmental problem. It happened in Geneseo, Illinois, but could easily have taken place here in California. The Church of Promise owned a historic, though tumbling-down, 90-year-old schoolhouse, an eyesore that it wanted to tear down. However, they couldn't tear the building down until they removed the asbestos used in the building years before. And unfortunately, they couldn't remove the asbestos, either, as the bill would be a steep $130,000, which they couldn't afford.