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JP Morgan Looking to Unload 7M SF of Office Properties

August 12, 2009

Tweet After going on an acquisition spree, JP Morgan has began marketing 23 office properties for sale. The properties span 8 different states, and total some 21,000,000 square feet. The WSJ is estimating that the portfolio sale could fetch north of $1B, a far cry from what the assets would have garnered 2-years ago. The […]

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7.2% Cap Rate on Union Square Retail

August 7, 2009

Tweet The Business Times is reporting on a sale to occur in San Francisco’s Union Square area. The sale of the 11,000 SF mixed-use 239 Grant Avenue took place at $8.5M ($773 psf), representing a 7.2% capitalization rate. The buyer was Peter Tso, the seller Frances Chen. Sales have been few and far between, but […]

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AIG Selling 1.4M SF HQ For Under $100 PSF

June 10, 2009

Tweet Read it yourself… but before you get all excited, remember it’s a landmark building sold to a foreign buyer. There will be significant expenses and politics associated with getting this building to throw off cash.

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Spear Street Picks Up Murphy Ranch Tech Park

June 10, 2009

Tweet Spear Street Capital closed escrow on May 27 on Murphy Ranch Technology Park in Milpitas. The 363,000 SF business park is fully leased and home to the headquarters of Phoenix Technologies and Intersil, as well as Avaya. The buildings are two-story steel frame. Late last year, Avaya decided to shed the ~140,000 SF it […]

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Tishman Looking to Sell 550 Terry Francois

May 24, 2009

Tweet Tishman is reportedly seeking a buyer for 550 Terry Francois in Mission Bay. The building is fully leased to Gap until 2017. According to Tishman’s site: Built in 2002, 550 Terry Francois is a 6-story office building, totaling 282,773 square feet. The property is a state-of-the-art facility, featuring an attractive window wall system and […]

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Detached From Reality

April 23, 2009

Tweet I got an email today about a retail center just listed on the market for sale in San Mateo – Gateway Crossing on 3rd Street. It’s a 13,060 square foot multi-tenant retail strip center on about a 27,000 SF parcel. Tenants include a Starbucks, 7-Eleven, Quizno’s, a donut shop, and a Pizza Hut. The […]

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10 Months Later, Regency Flipping Out East Palo Alto Project

April 6, 2009

Tweet After acquiring the Gateway 101 project in East Palo Alto in August of last year for $24.7M, Regency Centers has put the 92,000 square foot retail building back on the market. The building was acquired vacant after the Home Depot subsidiary EXPO Design Center vacated the retail building. After acquiring the building, Regency signed […]

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Flashback: 450 Park Avenue

February 17, 2009

Tweet I was going through old articles I had saved and I came across an article in Costar from July 2007 on the purhcase of 450 Park Avenue by Somerset Partners for nearly $1,600 per square foot. The article quoted one of the partnership’s principals, Keith Ruebenstein: We are confident that 450 Park Avenue will […]

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If New York is a Leading Indicator…

December 10, 2008

Tweet New York is, if nothing else, a psychological benchmark and leading indicator for a lot of people when it comes to analyzing the state of the real estate market. TRD is reporting that prices are being slashed for trophy assets, and there is still trouble in finding buyers. According to the article in TRD, […]

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Gilead Sciences Acquiring Office Building and 30 Acres of Land in Foster City from EFI for $138M

October 24, 2008

Tweet Gilead Sciences (GILD: 91.50 -0.05%) has entered into contract to acquire 30 acres of land from Electronics for Imaging (EFII: 43.72 -0.79%) for $137,500,000. Gilead has put up $5M in earnest money and has until December 12th to remove contingencies. The property being acquired is 301 Velocity way, which contains a 163,000 square foot […]

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