Notable Deals
Oracle Tower Going Sony?
February 23, 2009
Tweet Sony has been in the market for quite some time with a requirement of roughly 300,000-400,000 square feet. They’ve been rumored in the past to be looking at sites from the South Bay up the Peninsula, including Jay Paul’s Moffett Towers project. We’ve heard that they are now seriously considering the Oracle/BEA/Sobrato Tower at 488 N [...]
Read More >>Government Unveils Its Plan For Housing
February 18, 2009
Tweet Obama and the U.S. Treasury have revealed their housing plan, and its both extensive and wildly expensive. The government is putting aside $75B to help 9 million homeowners stay in their homes. In addition, $200 billion in losses will be absorbed at Fannie Mae and Freddie Mac. The program requirements will be laid out [...]
Read More >>365,000 SF Former Mervyn’s Distribution Facility in Fremont For Sale or Lease
February 13, 2009
Tweet The former Mervyn’s distribution facility in Fremont has been put up for sale, or lease. The asset is approximately 365K SF, and sits on a 31.5 acre parcel. There is approximately 26K SF of Office, with the balance 25′-32′ clear height warehouse was was built in 1990. The address is 48200 Fremont Blvd. The [...]
Read More >>ProLogis Coming To Market With Huge Portfolio; 2-3M SF in SF Bay Area
February 10, 2009
Tweet Prologis (PLD: 42.45 +0.17%) is bringing to market a portfolio of approximately 30M square feet of industrial properties for sale in the next few weeks. We’ve heard that approximately 2-3M square feet of that will be located in the Bay Area. The company is shedding assets to try to pay down its debt load. [...]
Read More >>Boston’s John Hancock Tower To Be Auctioned Off March 31
February 10, 2009
Tweet Last month it became known that Broadway Partners, the once high-flying PE firm who acquired $8B worth of office properties in a 6 month period in late 2006/early 2007, defaulted on its mortgage for the 1.75M square feet John Hancock Tower. The firm Green Loan Services has now announced that the property will be [...]
Read More >>Boston Properties Halts Construction on $1B NYC Tower
February 6, 2009
Tweet Boston Properties (BXP: 112.44 -0.16%) has halted construction on the $980M, 1-Million SF office tower on W 55th St after a 500,000 SF law firm tenant pulled out of the deal. This is the second project that Boston Properties has pulled the plug on in the last two week.
Read More >>Cupertino Square Bankruptcy Update
February 3, 2009
Tweet Cupertino Square, which filed for bankruptcy on September 2, 2008, recently filed a joint plan for reorganization with the bankruptcy court. According to NetDockets, the terms of the reorganization which are being proposed by the mall’s owners, Cupertino Square LLC and Vallco International Shopping Center LLC are that a newly-formed entity would acquire the center [...]
Read More >>Cupertino Approves Main Street Project
February 2, 2009
Tweet Sand Hill Property Company has secured city council approval for its Main Street project in Cupertino. Sand Hill went into contract on the vacant 17.4 acre property in 2007 for $65M ($85 psf) from Hewlett Packard, and closed the transaction in early 2008 through a debt and equity package provided by Principal Real Estate [...]
Read More >>San Francisco’s Largest Apartment Owner Loses 51 Buildings To Lender
February 1, 2009
Tweet The Lembi Group is San Francisco’s largest owner of apartment buildings. The Lembi Group, which operates Skyline Realty, Trophy Properties, and CitiApartments amassed a portfolio of 8,000 apartments across 307 buildings, and made significant acquisitions over the past several years, and over $400M in 2007 alone. The Wall Street Journal has a detailed piece [...]
Read More >>Tesla Deal Dead, For Now
January 30, 2009
Tweet Tesla Motor’s plans to build an electric car factory in North San Jose seem to have been dashed (at least for now) by its inability to raise venture funding to finance the construction of the factory. Instead, the company intends on seeking money from the federal government to help it convert a brownfield site [...]
Read More >>