How To Lose $1,200 PSF in Two Years
May 2, 2011
Tweet Buy this beauty for the low, low price of $2,643 psf. Then wait for Apple to go down the street. Guess the current owner doesn’t like to gamble.
Read More >>Google Angling to Buy $2B NYC Office Building
October 27, 2010
Tweet If there wasn’t already enough competition chasing core NYC office product, Google is now apparently in the running as well to acquire the 2.9M square feet office building at 111 Eighth Avenue. The building is only 18-stories tall, making those some outrageously large floor plates. The price is said to be close to a [...]
Read More >>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 [...]
Read More >>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.
Read More >>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 [...]
Read More >>Symantec Sells Cupertino Buildings to Walton Street
January 7, 2010
Tweet Cupertino-based Symantec (SYMC: 23.06 -2.37%) 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 [...]
Read More >>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 [...]
Read More >>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 [...]
Read More >>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 [...]
Read More >>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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