Notable Deals
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 [...]
Read More >>Juniper Networks Renews 425K SF Headquarters Lease
November 4, 2009
Tweet Juniper Networks (JNPR: 17.35 +0.41%) 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 [...]
Read More >>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 [...]
Read More >>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 [...]
Read More >>Golden Gate Fields Set For Auction In Early 2010
October 27, 2009
Tweet Magna Entertainment Corp., the bankrupt operator of nine race tracks nationwide, will ask a judge Oct. 27 for permission to sell Golden Gate Fields at auction in early 2010. The largest horse track operator in the country, Magna has sought to auction all its properties since filing for Chapter 11 protection in March. It [...]
Read More >>CRE Dominoes: Capmark Hitting The Fan
October 24, 2009
Tweet Well the reports are that Capmark is finally ready to file BK. This was something that has been on the radar for quite some time, but seems things are nearing the end with reports that a filing could come as soon as this weekend. Capmark is/was a large commercial lender, though what this deal [...]
Read More >>Tishman Loses Stuyvesant Town Ruling
October 22, 2009
Tweet A court of appeals today ruled that Tishman unlawfully raised rents at Stuyvesant Town and could be forced to pay back millions. The massive Stuyvesant Town/Peter Cooper Village project is a huge project that we previously posted about. This project was originally acquired for some $5.4B. Estimates at the time of our post were [...]
Read More >>DemandTec Takes Down 82,000 SF in San Mateo
October 19, 2009
Tweet The Business Journal reported on the DemandTec lease in San Mateo, but we’ll provide a bit more color for you. The company is moving from San Carlos to a Franklin Templeton space, on the 2nd and 3rd floors of 1 Franklin Parkway, Bldg 910. The space they are vacating is at Circle Star, Boston [...]
Read More >>Gramercy Capital Sells Cupetino Square For $60M
October 19, 2009
Tweet The Business Journal is reporting that Gramercy Capital, who took control of Cupertino Square (formerly known as Vallco Mall) in Cupertino through foreclosure, last month sold the mall to a Vietnamese buyer for $60M. The buyer was Vallco Shopping Mall LLC, who is driven by Tram Be, a businessman out of Vietnam. We’ll see [...]
Read More >>63% Off In Santa Ana – Tishman Unloads Office Building
October 15, 2009
Tweet Tishman Speyer has sold off 3 MacArthur Place (aka 3 Imperial Promenade) in Santa Ana, California. The buyer is Highridge Partners. The building is a 12-story Class A building totaling about 247,000 rentable square feet. The building sits on about 3 acres and was completed in 1991. Current occupancy is about 78%. Pricing came [...]
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