Blitzkrieg on Interest Rates as US, ECB, Sweden, Switzerland, China, UK Cut Rates

In what is likely an unprecedented step today, major central banks across the world cut interest rates in what was a concerted effort.
The United States, Bank of England, European Central Bank (ECB) cut rates by 0.5% each. The benchmark rates for each country are now as follows:

United States - 1.5%
ECB - 3.75%
Canada - 2.5%
UK - [...]

Mellanox Takes Down 26K SF in Sunnyvale

Mellanox Technologies has signed a 65-1/2 month lease for 25,523 square feet at 350 Oakmead Parkway in Santa Clara. The rental rate is $2.25 per month, fully-serviced, with 2% annual escalations. Concessions included 5 1/2 months of free rent, and up to $25 per square foot in tenant improvement dollars.
The company will be relocating its [...]

EBay Announces Layoffs - 10% or 1,000 Employees To Go

After a month of layoff rumors were flying around at EBay, EBay has finally confirmed them in the form of a 10% reduction in its workforce. It’s unclear where all the layoffs will occur, but given that EBay is fairly centralized in the Bay Area (unlike HP’s EDS layoff announcement), at least some of those layoffs [...]

SF Chronicle Article Today On San Francisco Office Space Market

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 [...]

August 2008 Federal, California, and Silicon Valley Unemployment Numbers

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

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 [...]

Noted San Francisco Law Firm Heller Ehrman to Dissolve; Vacate 300K SF Locally

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 [...]