The Landlord Takes It Back

Bitwise never owned its flagship Fresno buildings — it leased them from Summa Properties, which reclaimed them in August 2023 and stripped the Bitwise name off the walls, even inviting the public to help rename South Stadium.

South Stadium (700 Van Ness Ave)

The historic 50,000-square-foot Phelan Building that housed Bitwise South Stadium is closed as a brand and has been marketed for lease into 2025–2026, with suites offered from 100 to 6,000 square feet. As of mid-2026, no single anchor tenant has been reported.

State Center Warehouse (747 R St)

The City of Fresno signed a 7-year lease worth about $8.7 million (roughly $1.165 million in year one) for more than 37,000 square feet, moving in around 140 Capital Projects Department employees in early 2024. The city, in other words, became the tenant that Bitwise’s pitch decks always promised.

The Hive (2600 Ventura St)

Renamed the “Bee Hive” after the collapse, its office space was reported fully tenanted with 16 tenants, while a 30,000-square-foot warehouse portion was still seeking an occupant.

Toledo: 1300 Jefferson Ave

ProMedica bought the Jefferson Center in 2019 for $1.2 million and spent about $38 million renovating it for Bitwise. After sitting in limbo, it reopened on February 20, 2025 as the “Innovation Post” tech hub, with four tech tenants occupying about 60% of the space, helped along by a $20 million federal grant. Bakersfield’s two downtown Bitwise buildings had already been listed for sale in March 2023, before the collapse.

Epilogue

If you want the full retrospective, the Fresno Bee’s podcast Bitwise & Betrayal: Inside the fraud scandal that shook Fresno launched in December 2024, and KVPR’s reporting on the co-founders’ text messages remains the definitive primary-document piece.

Sources

GV Wire: Summa reclaims the buildings • LoopNet: 700 Van Ness listing • GV Wire: city lease • 13abc: Innovation Post opening • Bitwise & Betrayal podcast • KVPR: the text messages