Market Data
SF Chronicle Article Today On San Francisco Office Space Market
October 3, 2008
The SF Chronicle today is featuring an article discussing the trouble San Francisco office market is facing as a result of all that is going on in the equity and debt markets. There are two key takeaways in this article. The first is that we could see a 900 basis point increase in the office vacancy rate in [...]
Read More >>August 2008 Federal, California, and Silicon Valley Unemployment Numbers
October 3, 2008
The latest unemployment numbers for August 2008 have been released and the economy continues to trend lower as unemployment nationwide, statewide, and locally have all continued to trend higher.
The graph to the right shows the trend over three years, but what we are seeing over a longer time period is that statewide, the unemployment rates have [...]
Amazing Sunnyvale - TMG and Principal Moving Forward to Bring Another 100K SF of Office Online
October 1, 2008
The Martin Group and its JV partner Principal Global Investors have plans to break ground shortly on 384 Santa Trinita Ave, a four-story Class A office project in Sunnyvale. The building will feature 25,000 square foot floor plates, and 3.35/1000 parking. This development would dump another 100,000 square feet of space on top of a market which [...]
Read More >>Noted San Francisco Law Firm Heller Ehrman to Dissolve; Vacate 300K SF Locally
September 29, 2008
Heller Ehrman, a 500-lawyer firm with 14 domestic and international offices has voted to dissolve. The firm was founded in 1890 in San Francisco, and occupies fourteen floors (about 200-250K SF) at 333 Bush Street and has about 100K square feet at 275 Middlefield Road in Menlo Park locally.
The firm was one of the most notable in Silicon [...]
House Defeats Bailout
September 29, 2008
The House of Representatives voted 228 to 205 against the bailout this afternoon. It will likely go back to get reworked but for the time being it is going to translate into market peril worldwide. The Dow is already down about 5%, and the slide will likely continue across the globe.
A bailout of sorts will [...]
Silicon Valley Office Space Continues to Get Cheaper
September 22, 2008
Landlords across Silicon Valley are working hard to get space leased, and in the process are offering everything from teaser start rates to bonuses to the brokers. In fact, in the past two months we have seen a dramatic increase in the number of landlords who are looking to entice brokers by providing them with [...]
Read More >>Moffett Towers Might Finally Be Getting a Tenant
September 22, 2008
Things haven’t gone as planned for the Moffett Towers project in Sunnyvale. Since being substantially completed in late 2007, the 1.8 million square foot (when all completed) project has sat empty waiting for a tenant. The landlord reduced rental rates from $3.25 NNN to $2.95 NNN some time ago, and still has no big deals to announce.
That might [...]