A couple of updates:
- First of all, Barney's New York this evening filed for Chapter 11
Quote:
Barneys New York files for bankruptcy
Aug. 6, 2019 2:41 AM ET
By: Yoel Minkoff, SA News Editor
Barneys, a nearly century-old icon of New York retail, has filed for bankruptcy protection and secured a $75M financing package to support a sale process that will see the company close 15 of its 22 locations.
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https://seekingalpha.com/news/348727...les-bankruptcy
For the sake of Union Square, I hope SF isn't one of the 15 but the odds don't seem good.
- Whoever said the news of Salesforce leasing Oceanwide's 1st st tower was premature turns out to probably be correct. The same source I referenced last week is now saying:
Quote:
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Salesforce’s San Francisco real estate footprint has grown hand-in-hand with the workforce — and is expected to balloon even further. The company’s urban campus, which includes Salesforce tower, takes up 1.9 million square feet of its San Francisco space. Salesforce is also planning to lease an additional 325,000 square feet in the Parcel F building at 550 Howard St. In addition, the company is known to be considering leasing the entire 1.1 million-square-foot Oceanwide Center. Salesforce declined to comment on the Oceanwide Center site, saying it does not comment on “rumors or speculation.”
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https://www.bizjournals.com/sanfranc...s-benioff.html
But the article in which this paragraph occurs is about the rapid growth of the company, both in terms of revenue and employee numbers and it argues that growth will continue so they are likely to be needing the space.