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Nortel Cuts 3200 More; Santa Clara Vacancy At Risk

February 25, 2009

Tweet Nortel Networks (NT: 0.00 N/A), which filed for bankruptcy protection last month, announced today that it will be cutting an additional 3200 jobs (worldwide). The company has a significant presence in Santa Clara and depending on the gravity of the situation, a Nortel bankruptcy has the potential to deliver some 1M square feet of office […]

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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 […]

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Flashback: 450 Park Avenue

February 17, 2009

Tweet I was going through old articles I had saved and I came across an article in Costar from July 2007 on the purhcase of 450 Park Avenue by Somerset Partners for nearly $1,600 per square foot. The article quoted one of the partnership’s principals, Keith Ruebenstein: We are confident that 450 Park Avenue will […]

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As Santa Clara Class A Vacancy Soars EOP Drops Prices at Mission Towers I

February 3, 2009

Tweet Santa Clara’s Mission Towers has just introduced some attractive pricing for its project in an attempt to find a tenant. After sitting on a mostly empty building in the face of a severe economic downturn, and facing a Santa Clara market whose Class A vacancy is set to double as a result of the […]

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Wilson Sonsini Goodrich & Rosati Cuts Lawyers and Staff

January 27, 2009

Tweet The iconic Palo Alto law firm of Wilson Sonsini Goodrich & Rosati has cut approximately 45 attorneys and 68 of its supporting staff. The 660 attorney firm made cuts representing about 6.5% of its attorneys, and about 9% of its staff. This cut comes on top of cuts Cooley Godward made last week (52 […]

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It’s Official: Yahoo! Vacating Mission College Campus

January 26, 2009

Tweet Yahoo! (YHOO: 40.73 -0.05%) is officially vacating it’s Mission College (2811-2821 Mission College) campus. They have listed the space for sublease even though there is only 1-year left on the sublease. The space is roughly 385,000 square feet and will be available on May 1. The buildings can be delivered furnished and have a […]

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Yahoo! Set To Introduce 385,000 SF of Vacancy to Santa Clara

January 23, 2009

Tweet Yahoo! (YHOO: 40.73 -0.05%) is reportedly getting ready to vacate a large chunk of Class A office space in Santa Clara, and we’ve heard its at its Mission College Campus located at 2811-2821 Mission College Blvd. The two buildings combine for a total of approximately 385,000 square feet. The effects of the layoffs Yahoo! […]

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Marketwatch Story on Oracle Building at 488 Almaden; Oracle Layoffs Announced

January 15, 2009

Tweet MarketWatch is featuring a story discussing the 380K square feet office building which it acquired through its 2007 acquisition of BEA Systems. The article discusses the tower’s past, and where the market is overall and the nature of the building relative to the campus-style environment prevalent in the valley. Not much new, but these […]

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Bill Halford of Bixby Land Company: Wait

January 8, 2009

Tweet There was a business journal article the other day discussing how tenants and buyers stand to gain from the slowdown in commercial real estate. The full article is here (although the article doesn’t really tell us anything interesting or new but I suppose it is something to write about in the absence of other […]

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If New York is a Leading Indicator…

December 10, 2008

Tweet New York is, if nothing else, a psychological benchmark and leading indicator for a lot of people when it comes to analyzing the state of the real estate market. TRD is reporting that prices are being slashed for trophy assets, and there is still trouble in finding buyers. According to the article in TRD, […]

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