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Notable Deals

Tishman Completes 550 Terry Francois Sale to GLL

December 7, 2009

Tweet The Business Journal is reporting that the sale of 550 Terry Francois to GLL is a done deal. A Tishman fund, traded on the Australian Securities Exchange as Tishman Speyer Office Fund, sold the 283,000-square-foot building for $135.5 million. The sale, which closed Nov. 26, represented a 21 percent drop from the $173 million […]

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Pontiac Silverdome Sells for a Whopping $583K

November 17, 2009

Tweet The Pontiac Silverdome has finally sold for a massive $583,000! The stadium cost some $55M to built 35 years ago. So much for residual value. According to Detroit News, a year ago, there was a deal on the table for more $20M. The rumor is that a Canadian company purchased it with some sort of plans to […]

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Huge NASA Academic Development Deal Goes To TMG and Related

November 16, 2009

Tweet The billion dollar, 75-acre academic super campus envisioned for Moffett Field has moved one step closer to becoming reality as developers TMG Partners and Related have been named as the master developers. Originally construction was anticipated to begin in 2012, with initial occupancy to take place in 2014. The ground lease for the project was signed […]

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CRE Dominoes: 8000 Marina Blvd Defaults

November 12, 2009

Tweet 8000 Marina Blvd, the 193,519 square feet Class A office project in Brisbane has gone into default. The building was acquired by Broadway Partners in 2006 for approximately $54M ($280 psf). Broadway, on its website is reporting that it disposed of the asset in August of 2007 though we’re not quite sure to who. […]

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Harris Stratex Takes Down 128K In Santa Clara

November 12, 2009

Tweet Harris Stratex Networks (HSTX: 0.00 N/A) has leased the vacant 128,000 square foot Great American Place building. The company is moving its facilities from 120 Rose Orchard in San Jose. The Great American Place/Plaza is a 3-story project sitting at 2903-2933 Bunker Hill and 5200 Great America Parkway (where Harris Stratex is going). The […]

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United Commercial Bank Goes Down

November 6, 2009

Tweet United Commercial Bank of San Francisco has bitten the dust. The FDIC took over UCB on Friday. United Commercial Bank got into a lot of trouble with its commercial real estate loan portfolio recently, taking hits on loans made on assets such as Vietnam Town, and Cupertino Square/Vallco Mall. It has significant assets however, […]

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Unemployment Benefits and Homebuyer Tax Credit Extended

November 4, 2009

Tweet After weeks of partisan debate, the Senate voted on Wednesday to lengthen unemployment benefits by up to 20 weeks and to extend the $8,000 homebuyer tax credit. The closely watched legislation would extend jobless benefits in all states by 14 weeks. Those that live in states with unemployment greater than 8.5% would receive an […]

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Juniper Networks Renews 425K SF Headquarters Lease

November 4, 2009

Tweet Juniper Networks (JNPR: 23.71 -0.04%) has renewed its lease for the three buildings it occupies as its headquarters in Sunnyvale. The buildings are located at 1184, 1194, and 1220 N. Mathilda Avenue and were constructed between 2000 and 2002. Average floor plates are 35,400 (comparable to Moffett Towers interestingly enough – doubt it was […]

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CRE Dominoes: FDIC Takes Over Three California Banks

October 30, 2009

Tweet The FDIC has shut down three California banks: Pacific National Bank, California National Bank, and San Diego National Bank. The three banks all were invested heavily in commercial real estate. Pacific National, as it was mentioned in The Registry article as being a lender on Moffett Towers (phase 2), was also involved in other […]

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Solyndra Leases 500,000 SF in Fremont

October 29, 2009

Tweet Solyndra has taken down the 500K SF Page Technology Park in Fremont. The manufacturing facility, located at 901 Page Avenue was a very unique facility given its size and had attracted interest at one point from Tesla. The facility sits on 30-acres and was acquired by Overton Moore last December from Hewlett Packard. The […]

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