OAKLAND — One of the landmarks of the Oakland skyline has been foreclosed due to a failed loan, a grim new indicator that the Bay Area office market remains feeble with no immediate remedies in sight.
The Clorox Building at 1221 Broadway in downtown Oakland has been taken back through a speedy foreclosure process, documents filed on June 16 with the Alameda County Recorder’s Office show.
The deed in lieu of foreclosure for the Clorox tower represents one of the latest examples of the brutal economic conditions for the office market in Oakland and elsewhere in the Bay Area…