Archive for May, 2008
Land Deal Approved by City Council; Earthquakes Stadium One Step Closer
May 22, 2008
The San Jose city council approved a plan by Oakland A’s and San Jose Earthquakes owner Lew Wolff to develop a mixed-use office, hotel, and retail project near the San Jose airport. The property which encompasses 66 acres will contain roughly 100K SF of retail, a 300-key hotel, and 1.5 million square feet of office [...]
Read More >>Sale of Macklowe’s GM Building Looking Likely
May 20, 2008
After many months of speculation and the fact that Macklowe went into default on the short term loans he took to acquire a seven building portfolio from Blackstone (some details here), Macklowe seems to have lined up some buyers for his landmark GM building (which is also home of the Apple “Glass Cube” Store), along with [...]
Read More >>Oracle/BEA Tower On The Market
May 20, 2008
Oracle has put up its tower at 488 Almaden Blvd. on the market for sale. BEA paid about $335 per square foot for the building last year in hopes of moving workers from its north first street campus over but instead Oracle has decided to turn around and put the vacant building back on the [...]
Read More >>Construction Costs on The Rise Again
May 20, 2008
Over the past several weeks, construction prices have climbed about 10% as the combination of a weak dollar and high crude oil prices filter their way through the economy. The weak dollar and global demand has caused base materials products to increase thereby causing an upswing in building material prices. High fuel prices further compound [...]
Read More >>Silverstone Properties Fails in its Bid to Rezone Property
May 12, 2008
After spending nearly two years working to entitle 7 acres of commercial property in West San Jose for housing, Silverstone Properties came up a vote short in the city council. The council voted this past week 6-5 against the rezoning of the property from its current office/industrial use to residential.
The mayor and the city have [...]