San Francisco, CA
Bay Area hotel market wobbles in San Jose, San Francisco, Oakland
Recent indicators have emerged that trace at a wobbly Bay Space lodge market — together with efforts to scout for a number of traders keen to take over a faltering mortgage for a lodging icon that’s perched atop San Francisco’s famed Nob Hill.
The Stanford Courtroom Lodge, a historic lodging at 905 California Avenue in San Francisco that’s one of many best-known resorts within the area is the point of interest of an try and discover a new holder of the mortgage on the property, in keeping with a advertising flyer that this information group has reviewed.
The first financing car for The Stanford Courtroom Lodge is a “non-performing senior mortgage with a complete excellent steadiness of $108.2 million,” acknowledged the advertising bundle that’s being circulated by Eastdil Secured, a industrial actual property agency.
Stanford Courtroom isn’t the one historic lodge on Nob Hill that faces a fragile monetary state of affairs.
The following block over, at 1075 California Avenue, the Huntington Lodge is in default on a $56.2 million mortgage on the property, San Francisco county data present.
Deutsche Financial institution, the lender on the Huntington Lodge property, has scheduled and canceled a number of public auctions that would produce a brand new property proprietor or allow the financial institution to grab possession of the 136-room lodging web site.
The indications of a troublesome marketplace for the lodge sector within the Bay Space lengthen past San Francisco. Two high-profile resorts in downtown Oakland and downtown San Jose had been put up on the market however couldn’t discover a purchaser:
- Oakland Marriott Metropolis Heart, a lodge situated at 1001 Broadway between tenth Avenue and eleventh Avenue, was put in the marketplace in early 2022. A number of months later, the 500-room lodge’s proprietor, Los Angeles-based Gaw Capital, canceled its plans to promote the lodge, in keeping with industrial property sources acquainted with the gross sales efforts. Gaw Capital would possibly try and refinance the present $80 million mortgage on the lodge web site.
- Lodge De Anza, a historic 100-room downtown San Jose lodge, was put up on the market within the fall of 2022. The gross sales value was $30 million, in keeping with sources acquainted with the trouble to promote the 10-story lodge. A purchaser wasn’t discovered and the lodge at 233 West Santa Clara Avenue in San Jose was taken off the market, the sources mentioned.
The financial illnesses attributable to the coronavirus troubled the lodge and journey sectors within the Bay Space and worldwide. Consultants imagine the lodging market within the Bay Space has but to totally recuperate.
The resorts dealing with the hardest roads to restoration are in business-dependent markets comparable to San Francisco, downtown Oakland and downtown San Jose, industrial property analysts say.
The mortgage difficulties which have engulfed The Stanford Courtroom Lodge and the Huntington Lodge in San Francisco, in addition to the unsuccessful gross sales efforts that concerned the Marriott in downtown Oakland and the De Anza Lodge in downtown San Jose match the template of a shaky lodge sector in elements of the Bay Space.
Nonetheless, all 4 resorts are in markets which have good long-term prospects, as soon as tourism and enterprise journey start to totally rebound, actual property specialists say.
The Lodge De Anza in San Jose has a shiny future, Mark Ritchie, president of Ritchie Business, an actual property agency, mentioned in September 2022 when that lodge was on the gross sales block.
“The lodge had a powerful life in an earlier time and it’ll have a powerful life in a future time,” Ritchie mentioned of the De Anza.
The Stanford Courtroom Lodge was touted as a property with glorious fundamentals, even with the fact that the property’s mortgage is deemed to be non-performing, in keeping with the Eastdil Secured gross sales bundle.
“The providing presents a uncommon alternative to accumulate a senior mortgage secured by high-performing, irreplaceable actual property situated in one of many prime lodging markets globally,” Eastdil acknowledged within the Sanford Courtroom Lodge advertising pakage.
San Francisco, CA
San Francisco Giants Named Potential Landing Spot for All-Star Slugger
The San Francisco Giants are heading into free agency hoping to finally make a splash after missing out in recent years.
It was another mediocre season for the Giants in 2024, as they finished just under .500 and hovered around that record for most of the year. Besides a couple of outlier years, San Francisco has struggled for most of the decade.
Now, former catcher Buster Posey has taken over as president of baseball operations, and hopes to change the trajectory of the franchise.
Over the past few winters, the Giants have consistently missed out on the top free agents. The hope is that Posey will bring some credibility to San Francisco and help convince free agents to come.
Heading into the offseason, one of the most glaring needs for the Giants is to improve the offense. Recently, Zachary D. Rymer of Bleacher Report spoke about San Francisco as a good landing spot for Baltimore Orioles slugger, Anthony Santander.
While the Giants play in one of the most pitcher-friendly parks in the league, their lack of power has really held the team back. San Francisco has not had a home run hitter since Barry Bonds, who was the last Giants player to hit 30 home runs for the team — back in 2024.
The Giants have swung and missed on top free agents like Giancarlo Stanton, Bryce Harper, Aaron Judge and Shohei Ohtani in recent years. An agreement with infielder Carlos Correa went up in smoke after his physical revealed a concerning injury and nixed that deal.
Santander is in the superstar category. But, last year with the Orioles was able to total 44 home runs and 102 RBIs.
That type of offensive production is exactly what San Francisco needs in the middle of the order, as he would pair nice with Matt Chapman and Heliot Ramos in the lineup. Also, he would provide the Giants with a switch hitter to help diversify their lineup.
In the spacious outfield of San Francisco, Santander might be a tad exposed defensively, but he could slide into the designated hitter slot a majority of the time. Santander usually played right field in Baltimore.
While the Giants want to bring in some good talent, they are also trying to build sustainable success for the future.
Adding a player the caliber of Santander would fix one problems in the lineup for San Francisco, but more work would still need to be done.
San Francisco, CA
Gang of young punks, including 12-year-old, charged in $84K San Francisco robbery spree
A cadre of 10 juvenile delinquents — including a 12-year-old — were arrested for allegedly committing nearly two dozen retail thefts in San Francisco, racking up $84,000 in stolen merchandise during the spree, according to police.
The pint-sized punks had been causing mayhem across the city by the bay for months — with police linking them to a string of robberies that began back in August, the San Francisco Chronicle reported, citing cops.
The San Francisco Police Department was able to tie the members of the group — which includes an 18-year-old, one 12-year-old, three 14-year-olds, and three 15-year-olds — to robberies that mostly targeted pharmacy chains, the outlet reported.
The Burglary and Organized Crime Unit first noticed a pattern when a group allegedly turned-over a Walgreens on Sept. 23, which included a violent assault on an employee, the Chronicle reported.
That worker suffered “a serious head injury,” according to SFPD.
Investigators were then able to connect the group to several other similar smash-and-grabs.
In one robbery on Sept. 29, some in the group robbed a store on Castro Street of $15,000 in merchandise. A couple hours later, the group returned for another raid and pilfered $12,000 more in goods, according to the Chronicle.
Officials say the group is also linked to some higher-profile incidents.
In a Sept. 9 incident, one of the 14-year-olds flashed a gun at a store security guard at a shop on Mission Street as the group stole a cash register, cops say. That bad seed faces an assault with a deadly weapons charge.
Cops say a pair of the ne’er-do-wells — a 15-year-old and an 18-year-old — are responsible for a carjacking that took place on Nov. 5.
The 12-year-old is facing a slew of charges including assault likely to produce great bodily injury, three counts of second-degree robbery, seven counts of second-degree burglary, seven counts of grand theft, 10 counts of organized retail theft, and four counts of petty theft.
Brandon McClain, 18, is charged with four counts of second degree burglary, four counts of grand theft, and four counts of organized retail theft.
McClain is being held without bail, according to the Chronicle.
San Francisco, CA
San Francisco police arrest 18-year-old, 7 juveniles accused of over 20 retail thefts
An 18-year-old along with seven juveniles, one as young as 12-years-old, have been arrested in connection with more than 20 retail thefts, San Francisco police announced Thursday.
According to officers, the investigation began following a robbery that took place Sep. 16 at the Walgreens on the 1100 block of Potrero Avenue. Police said several juvenile suspects concealed merchandise and ransacked the store.
When an employee asked the suspects to stop, the employee was attacked and suffered a serious head injury, police said.
During the investigation, officers from the Mission Station Anti-Vendor Enforcement Unit recognized five of the juvenile suspects while investigating an assault that also took place on Sep. 16 at 24th and Mission streets.
Police said the suspects were taken into custody for the incident at Walgreens.
Investigators reviewed other incidents and noticed similarities in suspect description, victims and motive. With the help of Walgreens Asset Protection, investigators identified eight suspects involved in at least 23 retail thefts at the pharmacy chain’s San Francisco locations.
In a statement Thursday, police listed some of the incidents allegedly linked to the suspects, including an Aug. 18 incident at the store on 1333 Castro Street where one of the suspects jumped over the front counter and stole a cash register and a Sep. 9 incident at the store on 2690 Mission Street in which one of the suspects brandished a firearm at a security guard.
The eight suspects are also linked to two Sep. 29 robberies at the Castro Street location. Police said $15,000 in merchandise was stolen during the first robbery, before the group returned with five additional accomplices and stole another $12,000 in goods about two hours later.
A total of $84,000 in merchandise was stolen, police said.
The only adult in the case, 18-year-old Brandon McClain of Hayward, was arrested on suspicion of four counts of second degree burglary, four counts of grand theft and four counts of organized retail theft.
Police said the youngest suspect is a 12-year-old boy from San Francisco. The 12-year-old has been charged with assault likely to produce great bodily injury, three counts of second-degree robbery, seven counts of second-degree burglary, seven counts of grand theft, 10 counts of organized retail theft and four counts of petty theft.
The additional suspects have been identified as a 14-year-old male from Pittsburg, two 14-year-old boys from San Francisco, a 15-year-old male from Oakland, a 15-year-old male from Oakley and a 15-year-old male from San Francisco. All of the remaining suspects are facing multiple charges, including second-degree burglary, grand theft and retail theft.
One of the 14-year-olds from San Francisco faces additional charges of assault with a deadly weapon, assault likely to produce great bodily injury and battery causing serious bodily injury.
McClain, along with the 15-year-old from San Francisco, have also been accused of carjacking following a Nov. 5 incident near Geneva and Cayuga avenues.
According to jail records, McClain is being held without bail and his next court appearance is scheduled for Friday.
The identities of the juvenile suspects are being withheld due to their ages.
Anyone with additional information about these cases is asked to call the SFPD tip line at 415-575-4444 or text TIP411, beginning the message with SFPD.
-
Business1 week ago
Column: OpenAI just scored a huge victory in a copyright case … or did it?
-
Health1 week ago
Bird flu leaves teen in critical condition after country's first reported case
-
Business6 days ago
Column: Molly White's message for journalists going freelance — be ready for the pitfalls
-
World1 week ago
Sarah Palin, NY Times Have Explored Settlement, as Judge Sets Defamation Retrial
-
Science3 days ago
Trump nominates Dr. Oz to head Medicare and Medicaid and help take on 'illness industrial complex'
-
Politics5 days ago
Trump taps FCC member Brendan Carr to lead agency: 'Warrior for Free Speech'
-
Technology4 days ago
Inside Elon Musk’s messy breakup with OpenAI
-
Lifestyle5 days ago
Some in the U.S. farm industry are alarmed by Trump's embrace of RFK Jr. and tariffs