SANTA CLARA — A lender has seized ownership of a big South Bay office building through a loan foreclosure that provides a fresh reminder that economic maladies still afflict Bay Area commercial properties.

The foreclosed property is an office building at 2390 Mission College Boulevard in Santa Clara. The building totals 152,300 square feet and is located in one of Silicon Valley’s tech hubs.

AllianceBernstein, a Tennessee-based investment and asset management firm, used an affiliate to take ownership of the building through the foreclosure.

PCCP, a Southern California real estate firm, had acted through an affiliate to obtain a $72 million loan for the property in 2022.

That loan became delinquent in January 2025, documents on file with the Santa Clara County Recorder’s Office show.

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