It’s Official: Jones Lang LaSalle Buying Staubach for $613M
June 16, 2008
Tweet We previously reported that the deal was essentially done, but Jones Lang LaSalle (JLL) confirmed today that it is in fact buying Staubach. Jones Lang LaSalle is paying $613M for Staubach over 5 years, with $100M in stock and $123M in cash up front at the closing. An additional $114M in earnouts will be paid to [...]
Read More >>Yahoo Cuts a Deal with Google
June 12, 2008
Tweet Yahoo has entered into a non-exclusive agreement with Google (NASDAQ:GOOG) to allow Google to run ads on Yahoo’s web properties. The deal is estimated to ad approximately $800M a year in cash flow to Yahoo. As of June 8th, Microsoft and Yahoo have concluded their negotiations as well. Microsoft (NASDAQ:MSFT) has expressed interest in continuing [...]
Read More >>YoY US and International Investment Sales Down Dramatically in Q1
June 12, 2008
Tweet Though likely not surprising to anybody, year over year investment sales both in the United States and on a worldwide basis are down dramatically. According to a Jones Lang LaSalle (NYSE:JLL) report cited by NREI, first quarter investment sales in the US came in at $39.2 Billion, a number which is down 69% from [...]
Read More >>Google Leases Land at NASA for Development of New High Tech Campus
June 4, 2008
Tweet It’s been rumoured in the past that Google was nibbling at taking down space at Jay Paul’s Moffet Towers Project. In what could be construed as less than favorable news for Moffett Towers, insofar as Google is concerned, NASA announced today that it has inked a deal with Google for 42 acres of land [...]
Read More >>Robert Half International Moving to San Ramon; Leases 236,000 SF
May 30, 2008
Tweet Robert Half International has signed a lease for building 3 at Bishop Ranch to take 236,000 SF of space. Robert Half International (NYSE:RHI) will move its regional operations from Pleasanton, where it occupies 220,000 SF currently across several buildings. The move to San Ramon will be completed in 2010. In addition to the RHI [...]
Read More >>Janitor Strike Over; New Contract Ratified
May 29, 2008
Tweet Bay Area janitors, who first went on strike May 20th have approved a new contract. The contract increases their wages by $2.40 per hour over the next four years, which represents a 22% increase. The janitors who walked off the job are responsible for cleaning approximately 80 percent of the commercial real estate in [...]
Read More >>Boston Properties, Goldman Sachs Acquire GM Building; Macklowe Son To Take Over
May 28, 2008
Tweet Over the weekend, the fate of the GM Building at 767 Fifth Avenue became known. Boston Properties and Goldman Sachs led an investment group that acquired the trophy asset along with other buildings from Macklowe Properties for $4B, $2.5B of which was assumption of debt. It’s rumored that middle eastern investors and sovereign investment funds [...]
Read More >>Brocade Acquires North First Street Land in San Jose for Office Park
May 27, 2008
Tweet Brocade, in an SEC filing dated today indicated that it has acquired land on North First Street for the construction of a 562,000 SF office project. We were previously the first to report on April 4th that Brocade was in negotiations to lease the project, however; as it turns out the transaction actually involved [...]
Read More >>Bill Gross Says U.S. Understates Inflation
May 22, 2008
Tweet The manager of the world’s largest bond fond, the Pimco Total Return Fund, says that the methodology the United States uses for calculating its inflation rates results in an understatement by roughly 100 basis points. This results in real GDP growth and real bond yields to be off by a similar amount. If the [...]
Read More >>Startups Today, VC’s Tomorrow
April 10, 2008
Tweet We’re starting to see more reports of the credit crunch infecting Silicon Valley make the mainstreem press. IHT came out with an article the other day discussing how startups in Silicon Valley are beginning to feel the crunch. For the most part, landlords and brokers have remained fairly bullish on the prospects of Silicon Valley with [...]
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