County Planning On Buying, Flipping Out Former San Jose Hospital Site
November 11, 2009
The Business Journal is reporting that Santa Clara County is stepping up to acquire the 13-acre former hospital site on Santa Clara Street in Downtown San Jose. The county plans on opening a 30,000 square foot clinic on the site, land banking the balance, and then flipping it out to a developer when the market [...]
Read More >>News From Around San Jose
September 24, 2009
There were some news items in the Mercury News over the past few days concerning downtown condos, the earthquakes, and redevelopment. We didn’t get around to posting on them individually, so here’s a collective roundup. San Jose Earthquakes showed off renderings of their new stadium. Article from Mercury News is here, while renderings are located [...]
Read More >>Awfully Quiet in Downtown San Jose
April 22, 2009
We know sales have been slow at the condo towers in Downtown San Jose. The question is where do the developers go from here? Do they keep hanging on, or is one of them going to succumb to the market soon? The three major new “San Jose highrise” developments are Tower 88, 360 Residences, and [...]
Read More >>$2 Million For the Knight Ridder Sign?
April 6, 2009
According to a report on KCBS, the Knight Ridder sign space on 50 W San Fernando (pictured) in Downtown San Jose is up for sale for a reported $2M, plus additional monthly rent. That’s a ridiculous amount of money. Undoubtedly the signage is pretty impressive, and it probably can’t be replicated, but it’s relatively “buried” [...]
Read More >>Oracle Tower Going Sony?
February 23, 2009
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 Almaden [...]
Read More >>Developer Lands Safeway For Tower 88 Project in San Jose
January 28, 2009
The developer of the Tower 88 project in San Jose has reportedly struck a deal with Safeway to anchor the hi-rise condominium project in downtown San Jose between 2nd and 3rd streets on San Fernando Avenue. According to the Mercury News, the city redevelopment agency will kick in about $1.85 Million for improvements, among which is [...]
Read More >>Marketwatch Story on Oracle Building at 488 Almaden; Oracle Layoffs Announced
January 15, 2009
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 types [...]
Read More >>Adobe to Cut 600; Yahoo Layoffs Next Week
December 4, 2008
Adobe announced that it will be laying off 600 employees, or about 8 percent of its workforce. The San Jose company indicated that the job cuts will be across the board, and are attributable to a slowdown in the economy and lower than expected sales of its Creative Suite 4 product. Yahoo is set to [...]
Read More >>The 88 Condos in San Jose Revises Pricing
November 10, 2008
The 88, the 197-unit condo project in Downtown San Jose, has reduced its price today on some of its units. A short while ago we got an alert that Unit 605 at the tower, was reduced from $545,000 to $490,000, roughly a 10% drop. This is expected as we’ve heard sales at all the condo [...]
Read More >>San Jose Condos Going Rental
October 1, 2008
The Mercury News reported today on decisions by Barry Swenson and the CIM Group to convert for sale condos into rental units. Amongst the projects being converted include The Globe by CIM, and Barry Swenson’s Skyline and The Lofts on Alameda project. This is no real surprise. What will be interesting to see is whether [...]
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