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Hewlett Packard Reducing Real Estate Footprint by 25% in Cupertino and Palo Alto

March 19, 2008

Tweet As part of their cost cutting plan, Hewlett Packard is reducing its footprint in Cupertino and Palo Alto by approximately 25%. In addition, HP has in the recent past been divesting some assets it owned in the South Bay cities of Cupertino and Mountain View. The plan is to more efficiently use space and […]

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Weakness in Rents Beginning to Show

March 17, 2008

Tweet Over the past 24 months, rental rates in the Silicon Valley, the Peninsula, and San Francisco have all seen a dramatic increases. Rental rates in some buildings have jumped nearly 75% over the past 24 months thanks to aggressive new owners looking to benefit from increased demand. During the past two quarters however, that […]

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Short Term Rates Down, Long Term Rates Up, Economy Down

March 17, 2008

Tweet The Fed’s recent actions to help stabilize economic conditions are not impressing foreigner’s holding US debt instruments. The inflationary actions of the Fed have resulted in foreign buyers of US debt to essentially boycott government auctions for treasuries. Over the past eight weeks, the share of foreign buyers participating in these auctions was somewhere […]

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NVIDIA Purchase of Santa Clara Campus Confirmed

March 1, 2008

Tweet An SEC filing by NVIDIA has confirmed the purchase of approximately 475K SF of Office Space and land from Harvest Properties and Blackrock in Santa Clara by NVIDIA. We previously reported on the purchase back on February 15th. The purchase of the park comes with a price tag of $150M, includes 25 acres, and 10 […]

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Cornish & Carey Predicting a Flat 2008

February 22, 2008

Tweet Cornish and Carey held its annual forecast in Santa Clara this week. Along the lines of what I’ve been writing about, they are predicting rental rates to be static for 2008 for office and R&D, and vacancy rates to remain in a similar state. The fact is that there is a large amount of […]

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Not Even One Securitization Issuance Priced In January

February 12, 2008

Tweet NREI is reporting that in January, not a single CMBS was priced in a one-month period. This is the first time in the 20-years since CMBS product was introduced that this has happened. Also telling is that despite this lack of activity, some $37B in securitizations remain in the pipeline. In the face of this prices […]

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Silicon Valley Chapter of NAIOP Broker Luncheon

January 31, 2008

Tweet I attended a broker luncheon of NAIOP’s (National Association of Industrial and Office Properties) Silicon Valley chapter today. The panel was comprised of three brokers, two brokers who spend a majority of their time representing landlords, and one who is a predominately tenant representative. There seemed to be some concern in the air about the […]

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SEC Publishes Proposal to Allow Commercial Real Estate Brokers to Sell TIC Interests

January 18, 2008

Tweet In the past few years there has been a surge of TIC investments, particularly in the NNN leased investment market. There has been a lot of uncertainty in the area of TIC investments with regard to what commercial real estate brokers can and cannot broker. On November 13, the SEC published a proposed rule governing […]

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S&P’s First Week Performance Worrisome

January 4, 2008

Tweet If the performance of the S&P Index during the first week of January is right again this year, the markets and the economy may be facing a bumpy ride ahead. Below is the performance of the S&P 500 index over the last ten years; and 2008 has had the worst showing in a decade. […]

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Commercial Market Downturn Talk Gaining Traction

December 28, 2007

Tweet For months now we have been hearing of the downturn in the residential market and the subprime woes that have put a stranglehold on credit. The media has been all to focused on the residential market because that is what most people on the streets are concerned with. We are starting to see the mass […]

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