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Harris Stratex Takes Down 128K In Santa Clara

November 12, 2009

Tweet Harris Stratex Networks (HSTX: 0.00 N/A) has leased the vacant 128,000 square foot Great American Place building. The company is moving its facilities from 120 Rose Orchard in San Jose. The Great American Place/Plaza is a 3-story project sitting at 2903-2933 Bunker Hill and 5200 Great America Parkway (where Harris Stratex is going). The […]

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Adobe Reportedly Laying Off 15%

November 10, 2009

Tweet Reports are circling around the web that San Jose-based Adobe (ADBE: 72.26 +0.42%) is having layoffs today. Some (unconfirmed) reports put the number at up to 15% of staff (this likely includes contractors). We will be hearing of deals getting done over the next few quarters, some fairly big, but the thing to keep […]

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Juniper Networks Renews 425K SF Headquarters Lease

November 4, 2009

Tweet Juniper Networks (JNPR: 24.82 +1.51%) has renewed its lease for the three buildings it occupies as its headquarters in Sunnyvale. The buildings are located at 1184, 1194, and 1220 N. Mathilda Avenue and were constructed between 2000 and 2002. Average floor plates are 35,400 (comparable to Moffett Towers interestingly enough – doubt it was […]

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Watergate Towers Update

October 26, 2009

Tweet The Watergate office towers complex in Emeryville has been under receivership and The Registry is reporting Divco is possibly nibbling at the asset. The four-building complex was acquired by Hines. Buildings 1-3 (older towers built in 70-80′s) were acquired by a Hines partnership with guess who….CalPERS! These are expected to be foreclosed on next month. The […]

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$4.50 NNN? You Must Be Joking

October 23, 2009

Tweet We’ve generally refrained from turning this blog into a Burbed for commercial real estate, but occasionally we see a listing that makes us reconsider. So in the Burbed spirit ladies and gentlemen, we would like to present you with 350 Winchester Blvd! Only $4.50 NNN (that’s $54 for those of you in SF). At […]

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Q3 2009 Update: Silicon Valley Rents, Vacancy Rate, and Unemployment Numbers

October 1, 2009

Tweet It’s been about two quarters since we last updated our chart for Silicon Valley office rents, vacancy rates, and unemployment. The latest numbers indicate what we anticipated, and that is unemployment numbers would continue to have a significant impact on rents and vacancy rates. What’s more is that the unemployment numbers continue to be […]

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Q3 Manhattan Rents Drop 5%

September 30, 2009

Tweet A 5.2% drop this last quarter (to an avg of $51), combined with the previous three puts the year-over-year drop in Manhattan rents at some 27%, according to Studley. The amount of available sublease space is over 17 million square feet, with overall vacancy at 13.2%. The total office market in Manhattan is roughly […]

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Office Market Expected to Continue Downward

August 24, 2009

Tweet No surprise here, but another article in the Mercury News, this time focused on office and R&D space discusses the market, and provides some insight into what others are seeing and forecasting. Full article here.

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CalPERS Taking A Walk In Portland

August 20, 2009

Tweet CalPERS is demonstrating why we are still a ways off from seeing the bottom of this “thing”. After joint venturing with Commonwealth Partners LLC to acquire the 355,000 square feet of Class A office space in Portland’s Koin Center building in 2007, the duo have defaulted on the loan and CalPers has made the […]

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Manhattan Deal Volume Scarce; Cap Rates In The 7′s

August 18, 2009

Tweet In the first half of the year, there were three sales greater than $30M in Manhattan, representing 10% of what is normally transacted. The so-called capitalization rate, or a property’s net operating income divided by purchase price, may have risen to about 7 percent for stable, prime Manhattan office buildings, CB Richard Ellis said. […]

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