Comments on: Trouble in North San Jose For Tishman Speyer

By: Joe Shmoe

Joe Shmoe — Wed, 08 Jul 2009 22:13:00 +0000

goldman sachs sucks

By: grumpy citizen

grumpy citizen — Wed, 01 Jul 2009 07:56:12 +0000

who cares how much the land is worth, just keep any stadiums away from that part of 101 please

By: Lee

Lee — Wed, 01 Jul 2009 02:21:27 +0000

Actually, the soccer stadium will be quite close to this site…not really downtown. The old FMC site I believe it is called. Adjacent to the airport, across from the Santa Clara Caltrain station.

By: Brian

Brian — Wed, 01 Jul 2009 01:59:40 +0000

if it’s worthless then i’d like to put in an offer. heck, i’ll even take the land on the other side of Guadalupe Parkway. I think it’s owned by equity office, which if i’m not mistaken is putting out their own fires considering airport rents are in the dumps too

By: squarefeet

squarefeet — Wed, 01 Jul 2009 00:55:50 +0000

I have to agree with Yo Yo Yo (with that name, he must definitely be a broker) that this isn’t a very good ballpark site.

As for the land being worthless, it’s worth something, but certainly not much.

…I think the real question is who has a specialized use that needs a custom building. Answer that question, and you might find a buyer.

By: Yo Yo Yo

Yo Yo Yo — Tue, 30 Jun 2009 23:59:54 +0000

Why would a user buy land today when they will be able to buy completed brand new vacant buildings at well-below replacement cost prices ($100 psf). The “reset” will happen and frankly needs to happen so that this market starts moving again.

$10 / psf dreaming! Let’s see what Mtn View closes at.

The ball park and soccer stadium need to be in downtown, not N1st!

By: oh quit it

oh quit it — Tue, 30 Jun 2009 21:48:02 +0000

oh stop it with this worthless land argument. The land price has plummeted, we get it, but it is not worthless. I guarantee you will find people to land bank at $10 per square foot, not to mention some users that will come out of the wood work at around $15-20 per. would ebay not spend $26m of its $3b+ cash pile to lock up 40 acres adjacent to its HQ? I think it would.

anyways, a land bank at $15 per still gives you a decent IRR over 7 years if you assume that the price will get back to $40 by then with minimal management requirements

what would be interesting to see if the city would consider these sites for a stadium – baseball or soccer….

By: Yo Yo Yo

Yo Yo Yo — Tue, 30 Jun 2009 21:00:24 +0000

The land is worth nothing. There is over seven million squre feet of Class A space available in the Valley today. No one is going to build anything for a long time!!