{"id":1004076989,"date":"2013-06-12T13:06:39","date_gmt":"2013-06-12T21:06:39","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=139020"},"modified":"2022-12-08T10:31:00","modified_gmt":"2022-12-08T18:31:00","slug":"san-francisco-bay-area-properties-put-up-for-sale-as-california-looks-to-pay-off-wall-of-debt","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/san-francisco-bay-area-properties-put-up-for-sale-as-california-looks-to-pay-off-wall-of-debt\/","title":{"rendered":"San Francisco Bay Area Properties Put Up for Sale as California Looks to Pay Off Wall of Debt"},"content":{"rendered":"

By Alex Girda, Associate Editor<\/em><\/p>\n

The Department of General Services is planning the sale of a large section of surplus land in its administration, and marketing has commenced for the property. According to a press statement, the DGS has already listed the property and opened talks with interested buyers until October 3. The 81 acres of land that are being offered up for sale by the state of California once belonged to the former Agnews Developmental Center.<\/p>\n

According to DGS Director, Fred Klass, California Gov. Jerry Brown is looking to sell the land located in Silicon Valley\u2019s Golden Triangle area in order to pay off some of the \u201cwall of debt\u201d that the state currently owes. \u201cThis sale will allow us to meet that goal while providing a tremendous development opportunity for the San Jose community,\u201d said Klass.<\/p>\n

Also making headlines is a very different kind of real estate property as Kimpton Hotels has put up for grabs one of its San Francisco Bay Area venues. The Serrano Hotel is now available for an asking price of around $65 million, or a per-room rate of around $275,000. The 236-key hotel recently underwent a $7 million renovation process for not only its fa\u00e7ade but also the windows.<\/p>\n

The 16-story hotel also offers a dining option in the form of Jasper\u2019s Corner Tap & Kitchen, as well as 2,500 square feet of meeting space at the venue. Considering the rising profile of the Bay Area\u2019s hospitality market, the Serrano Hotel is set to see investors flock to the property.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Department of General Services is planning the sale of a large section of surplus land in its administration, and marketing has commenced for the property. According to a press statement, the DGS will be listing the property and talking with interested buyers until the 3rd of October, this year. The 81 acres of land that are being offered up for sale by the state of California were once belonged to the former Agnews Developmental Center.<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21751,21742,1609],"tags":[],"class_list":["post-1004076989","post","type-post","status-publish","format-standard","hentry","category-development","category-hotel","category-latest","category-san-francisco"],"acf":[],"yoast_head":"\nSan Francisco Bay Area Properties Put Up for Sale as California Looks to Pay Off Wall of Debt - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/san-francisco-bay-area-properties-put-up-for-sale-as-california-looks-to-pay-off-wall-of-debt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"San Francisco Bay Area Properties Put Up for Sale as California Looks to Pay Off Wall of Debt\" \/>\n<meta property=\"og:description\" content=\"The Department of General Services is planning the sale of a large section of surplus land in its administration, and marketing has commenced for the property. 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