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 [...]
Read More >>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 [...]
Read More >>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 [...]
Read More >>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 [...]
Read More >>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.
Read More >>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 [...]
Read More >>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 [...]
Read More >>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 [...]
Read More >>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 [...]
Read More >>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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