Owner Slashes Value Of Michelson Tower: 26% price cut for trophy Irvine office.

The article informs the Michelson office tower in Irvine, Californi, which has seen its valuation decreased from its peak value. It discusses indicating a downturn in the office real estate market; the tower's owner, Manulife US REIT, considering a sale of its assets due to market conditions; and drop in valuation comes as other Southern California office properties in the same REIT's portfolio have also faced significant declines in value, including the Figueroa tower in downtown Los Angeles.