Broadway Partners Deal to Sell One Sansome to Mirae Falls Apart

October 21, 2008

Tweet After having gone into contract with Broadway Partners about two months ago to acquire One Sansome Street, it appears South Korea-based Mirae Asset MAPS Investment Company has backed out of the $365M transaction. The 650,000 square foot building is leased in large part to Citigroup on leases which run for several more years. We’ve heard […]


Broadway Partners Runs Into Trouble – San Francisco Holdings On The Table?

October 11, 2008

Tweet During 2006 and 2007, New York’s Broadway partners went on a tear, acquiring billions of dollars worth of real estate, with Lehman Partners providing the financing for a good chunk of it. That put Broadway Partners on the map as the third largest acquirer of New York City office buildings after Macklowe and Tishman […]


Sobrato-Oracle Building at 488 Almaden To Go Full Circle?

September 26, 2008

Tweet Since Legacy Partners dropped its plans to acquire the 388,000 square foot Oracle Tower in San Jose, Oracle has had a bit of difficulty in rounding up another buyer. In fact, last week at the CoreNet/ULI event in Foster City, Randy Smith, the VP of facilities and global real estate for Oracle confessed that the […]


Quadrus Office Project on Sand Hill Road in Menlo Park Up For Grabs

September 24, 2008

Tweet The Quadrus Office Project on Sand Hill Road is working its way to a sale. The project which features 8 buildings sprawled over twenty acres between 2400 and 2498 Sand Hill Road is owned by the Kaiser Family Foundation and home to numerous venture capital and private equity firms. The property was the first […]


Snell & Co. and RREEF Purchase Cupertino Office Building From Symantec

August 21, 2008

Tweet Snell & Co. has acquired a +/- 90,000 square feet office building from Symantec, The three-story building is located at the corner of Torre Avenue and Rodrigues Ave in Cupertino. The building was delivered vacant. We heard about this sale a few months ago when Snell & Co. tied the site up and was on the […]


Verisign Selling Headquarters in Mountain View

June 16, 2008

Tweet Verisign, Inc. (NASDAQ:VRSN) is in contract to sell approximately half of its 290,000 SF headquarters in Mountain View, California. They are under contract to sell 675 and 685 East Middlefield Road for approximately $49M ($308 psf). The two buildings constitute about 159,000 SF, which is a bit more than half of the entire headquarters […]


YoY US and International Investment Sales Down Dramatically in Q1

June 12, 2008

Tweet Though likely not surprising to anybody, year over year investment sales both in the United States and on a worldwide basis are down dramatically. According to a Jones Lang LaSalle (NYSE:JLL) report cited by NREI, first quarter investment sales in the US came in at $39.2 Billion, a number which is down 69% from […]


Boston Properties, Goldman Sachs Acquire GM Building; Macklowe Son To Take Over

May 28, 2008

Tweet Over the weekend, the fate of the GM Building at 767 Fifth Avenue became known. Boston Properties and Goldman Sachs led an investment group that acquired the trophy asset along with other buildings from Macklowe Properties for $4B, $2.5B of which was assumption of debt. It’s rumored that middle eastern investors and sovereign investment funds […]


Park Center Plaza Sold to BPG Properties

October 14, 2007

Tweet Divco West has finally sold the Park Center Plaza mixed-use complex in San Jose. The complex, which primarily consists of office space was sold to BPG Properties of Philadelphia for $169.5 Million. The complex was acquired by Divco West through two transactions in 1998 and 1999 for approximately $110 Million.

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