SAN JOSE — A big San Jose office building has been seized by its lender through a foreclosure that serves up fresh evidence the Bay Area commercial real estate sector continues to wobble.
The building, which once was leased to Nio USA, a unit of a China-based maker of electric vehicles, totals 99,400 square feet. Nio vacated the building in October 2023, documents on file in San Francisco Superior Court show. The amount of unpaid debt at the time of the foreclosure, including principal, interest, penalties and late fees, was $25.8 million, the county documents show.
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