Golden State Portfolio Hits The Market
March 2, 2010
Back in December, CBRE won the pony show to sell off a 7 million square feet portfolio of our property. It’s officially hit the market and just in time for IOU’s.
Read More >>Sheraton in Pleasanton Sold for $12.3M
February 11, 2010
About a year ago we reported on the default of the Sheraton in Pleasanton. The hotel has now changed hands to a group of investors for $12.3M, or $72K per key (170 rooms).
The buyers, a partnership of Sethi Enterprises and Kapoor Enterprises expects to dump an additional $2m into the asset to upgrade lobbies and [...]
Symantec Sells Cupertino Buildings to Walton Street
January 7, 2010
Cupertino-based Symantec (SYMC: 17.33 +1.23%) has finally closed on the sale of it’s 300,000 square foot building at 20300-20330 Stevens Creek in Cupertino.
We first announced the plan by Symantec to sell off its remaining Cupertino assets back in March of 2009.
The 20300-20330 buildings began being marketed during the summer and went into escrow with Mission [...]
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 >>Gramercy Capital Sells Cupetino Square For $60M
October 19, 2009
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 what happens [...]
Tishman in Contract to Sell 550 Terry Francois
October 15, 2009
We previously reported on Tishman’s putting up 550 Terry Francois for sale back in May. It now appears that they are in contract to sell the 282,773 square foot building that is fully leased to GAP through 2017.
The fund (referring to Tishman’s Australian Fund) has a contract to sell the so-called Gap Building at 550 [...]
63% Off In Santa Ana – Tishman Unloads Office Building
October 15, 2009
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 in at [...]
An Apartment Comp in Millbrae
October 13, 2009
Last week we posted an article about the large number of investors circling apartment complexes. We spoke in anecdotal terms, and one reader asked for metrics or proof on the market. Fair enough.
Globe St. has now pointed out a transaction to go down in Millbrae for the the 136-unit Waterstone Millbrae project. The project was built in [...]
Britannia R&D Park Picked Up for $38 PSF
September 29, 2009
Asilomar has picked up the 195,000 square feet R&D park in Fremont (49000-49090 Milmont Drive) formerly known as Britannia R&D Center. UBS sold the property to Asilomar for roughly $7.5M. The park is now known as Dixon Landing Research Park.
UBS had been marketing the asset for quite some time. They had been seeking to convert [...]
JP Morgan Unloads Seattle’s Chase Center For $115M
September 11, 2009
A sale in Seattle by JP Morgan of the fomer WAMU headquarters for $115M ($123 psf) is a striking display of where values are today. The approximately 900,000 square foot, Class A tower was built only three years ago by Washington Mutual.
JP Morgan acquired what is now Chase Center through its acquisition of WaMu. It [...]
