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MySpace/Fox Interactive Highlights Trend

June 5, 2009

Tweet We’ve been saying for some time that office vacancy will continue to climb for sometime even if the employment numbers begins to stabilize. Despite all their efforts to be proactive, most companies are reactive to economic conditions when they are deteriorating. As a result, we see companies continuing to go deeper when considering cuts […]

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LinkedIn Bucking The Trend and On The Prowl

June 4, 2009

Tweet The economy might be in the dumps for some, but LinkedIn seems to be bucking the trend. The social-networking site used often by sales staff and job seekers is on the hunt for additional office space nearby its current facility in Mountain View. The company is out and about looking at space in the […]

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Grubb & Ellis Posts $41.5 Million Loss; Renegotiates Debt

May 30, 2009

Tweet Grubb & Ellis (GBE: 0.00 N/A) has posted a loss of $41.5M for the most recent quarter. This compares to a loss of $6.3M in the same quarter one year ago. Revenues are down to $118M from $150M in the year ago period. The company issues a press release announcing the quarterly results, which […]

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Getting Warmer: EOP Drops Redwood Shores Rents Again

May 28, 2009

Tweet We’ve spent some time in the past discussing the Redwood Shores as a sort of case study. We originally discussed the Redwood Shores submarket back in January of 2008 when we indicated that rent hikes in Redwood Shores were nothing more than hype, driven mainly by Equity Office. Let’s look at that market again. […]

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Subleases Now Account For 40% of Midtown Manhattan Office Space

May 26, 2009

Tweet From the NYT: In Midtown Manhattan, for example, 13 percent of prime, modern, well-located offices — which brokers often refer to as Class A space — was available in April, up from 6.5 percent a year earlier, according to Colliers ABR, a commercial real estate services company. And sublets now account for some 40 […]

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Lobbying Congress For Help

May 22, 2009

Tweet Absolutely Classic: U.S. Rep. Zoe Lofgren, D-San Jose, sent letters to Kenneth Lewis, president of the Bank of America, and John Stumpf, president of Wells Fargo, dated May 7, asking them to explain why they refused to give Pau and partner RREEF a $391 million construction loan. “Although I understand and respect your position […]

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Schwarzenegger To Propose Sale of San Quentin, Agnews

May 14, 2009

Tweet Schwarzenegger is set to propose today that the State of California sell San Quentin, Agnews, and other property around the state. Locally, Agnews is an 81-acre site near Santa Clara and North San Jose surrounded mostly by Cisco Systems (click picture for larger view). The site is located at 3500 Zanker Road, and is general […]

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London Update: Rents to 1991 Levels; Vacancy Expected to 19%

May 14, 2009

Tweet Bloomberg has an article out discussing expectations that rents shortly will be on par with 1991 levels, while vacancy numbers approach 20%. The city of London seems to differ somewhat from our local market in that they seem to be dealing with a fairly severe supply problem, whereas San Francisco and Silicon Valley have […]

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Nervously Watching Delinquencies

May 13, 2009

Tweet An article in the LA Times today sheds light on the mounting troubles at regional banks. Over the past several years a lot of smaller regional banks got themselves heavily entrenched into financing commercial property and construction. A number of banks have already gone under, but many more are just beginning to feel the […]

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MIT Releases Q1 TBI Numbers; Index Drops 5.8%

May 12, 2009

Tweet MIT has released the first quarter numbers for its Transaction Based Index (TBI). The TBI, in MIT’s own words…: tracks the prices that institutions such as pension funds pay or receive when transacting commercial properties like shopping malls, apartment complexes and office towers. The MIT Center’s TBI is based on prices of National Council of Real […]

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