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A “Bloodbath” In Silicon Valley

January 5, 2010

Tweet Bloomberg is out with a hit piece on Silicon Valley’s office space market. More than 43 million square feet (4 million square meters) — the equivalent of 15 Empire State Buildings — stood vacant at the end of the third quarter, the most in almost five years, according to CB Richard Ellis Group Inc. […]

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Tribeca Forecloses on Lembi Buildings

December 30, 2009

Tweet The saga continues….Lembi subsidiary Trophy Properties has given several more properties back to Tribeca. Trophy Properties has lost a few more properties in the city and the peninsula. Some of the properties foreclosed on today as part of a loan originally made by UBS include: San Francisco 2642 Gough Street – 6 Units 2011 […]

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Harmonic Leases 188K SF in North San Jose

December 28, 2009

Tweet It’s been a fairly busy December relative to the rest of the year. A couple big deals have been signed, including the Facebook and Rambus deals. Harmonic (HLIT: 6.72 +3.07%) has also made a big move by signing a lease about a week ago for 188,332 SF at Carlyle Realty’s North First Street project […]

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Cortina Systems’ Sunnyvale Deal

December 21, 2009

Tweet Back in the summer Wrightwood Capital foreclosed on Bordeaux Centre, the 2-building ~124,000 SF newly constructed project in Moffett Park. Since taking it back, they’ve leased one of the buildings to Cortina Systems. Last week we blogged about the Moffett Towers deal signed with Rambus. Since then, we’ve received some comments on the post, as […]

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Moody’s Commercial Property Price Index Falls Again

December 21, 2009

Tweet Moody’s/REAL CPPI is down again. For the month of October, the index dropped another 1.5% from the previous month’s levels. Prices are now the lowest they’ve been since August 2002 according to the index. Prices are down 36% year-over-year, and 44% off the peak reached in late 2007. The numbers are gloomy, but there […]

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Moffett Towers Lands Rambus For 125K SF

December 18, 2009

Tweet It took a few years, but Moffett Towers has landed a tenant (ht Phil). Rambus (RMBS: 12.31 +4.41%) has become the guinea pig.  It signed a lease for 125,000 square feet on December 15th. The 10-year term begins around July 2010 once its tenant improvements are completed. The space will be delivered turnkey. They […]

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Mountain View Increases Density on County Land; Sale Will Be Attempted Again

December 17, 2009

Tweet The Mountain View City Council upped the density on a piece of land owned by the county to allow 50% FAR (floor-area ratio), up from 30%. The 3.6 acre parcel is located at 590 E Middlefield Road. The county had previously put the property up for bid, but bids came in too low for […]

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Gulf States Takes Steps Toward Unified Currency

December 16, 2009

Tweet Several Gulf States are taking the steps necessary to create a pan-arab currency. The core group of countries consists of Saudi Arabia, Kuwait, Bahrain, and Qatar. The Gulf currency – dubbed “Gulfo” – is likely to track a global exchange basket and may ultimately float as a regional reserve currency in its own right. […]

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Facebook Expands in Palo Alto; Subleases 265K Square Feet

December 15, 2009

Tweet It was only matter of time, but Facebook has made the decision to expand again. This time, Facebook has struck a deal for the 265,000 square foot, 3-building facility at 1050 Page Mill Road. About 14 months ago, Facebook leased 137,000 square feet at 1601 California Avenue. The sublease from Beckman Coulter consists of […]

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Bloomberg CRE Videos: Delinquencies and Impact on GE

December 8, 2009

Tweet Jaime Woodwell, vice president of commercial real estate research for the Mortgage Bankers Association, talks with Bloomberg’s Carol Massar and Matt Miller about the commercial real estate market. Delinquencies on commercial mortgage-backed securities rose to a record in the third quarter as unemployment rose and landlords struggled to retain tenants. Bloomberg’s Greg Miles reports […]

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