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Mark to Market: Sunnyvale R&D Trades For $40 PSF

May 7, 2010

Tweet Well there you go, $40 psf on a building, and less than $1M/acre for a Sunnyvale R&D project. We’re back to the lows of 2003 as far as land costs go when Gilbane acquired the 12-acre site of Kifer Commerce Park for about $19 psf. The purchase of 645 Almanor by Trumark sets a […]

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Golden State Portfolio Hits The Market

March 2, 2010

Tweet 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.

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Sheraton in Pleasanton Sold for $12.3M

February 11, 2010

Tweet 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 […]

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Symantec Sells Cupertino Buildings to Walton Street

January 7, 2010

Tweet Cupertino-based Symantec (SYMC: 24.59 +0.37%) 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 […]

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County Planning On Buying, Flipping Out Former San Jose Hospital Site

November 11, 2009

Tweet 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 […]

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Gramercy Capital Sells Cupetino Square For $60M

October 19, 2009

Tweet 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 […]

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63% Off In Santa Ana – Tishman Unloads Office Building

October 15, 2009

Tweet 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 […]

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An Apartment Comp in Millbrae

October 13, 2009

Tweet 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 […]

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Britannia R&D Park Picked Up for $38 PSF

September 29, 2009

Tweet 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 […]

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JP Morgan Unloads Seattle’s Chase Center For $115M

September 11, 2009

Tweet 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 […]

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