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Yes, Even Sand Hill Is Not Immune

April 1, 2009

Tweet Sand Hill Road is a unique place. It’s regarded by many as the place where many of the Valley’s top shelf venture capitalists, investors, hedge funds, and other financiers congregate. The membership fee to join this exclusive club is  paid in the form of office rents that are four times the Silicon Valley average. […]

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The Crisis in Venture Capital Continues

April 1, 2009

Tweet It’s been about nine months since we last posted data from the National Venture Capital Association (NVCA) and discussed the slowdown in the volume of liquidity events for venture-backed companies. Since then, things have gotten far worse with the most recent quarter showing severe weakness. The data released by the NVCA today indicates that number […]

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Symantec Taking Down Whisman Campus

March 17, 2009

Tweet About two weeks ago we noted that Symantec had plans to sell off its Cupertino assets, and relocate to Mountain View. At the time it made a lot of sense to us that Symantec (SYMC: 24.39 -0.81%) would make this move, because it could also take advantage and lockup space at the adjacent (former) […]

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Schwab Putting 375,000 SF for Sublease in San Francisco

March 9, 2009

Tweet Charles Schwab (SCHW: 30.37 -1.33%) is putting roughly 375,000 SF up for sublease at One Montgomery according to GlobeSt. Schwab occupies some 1,273,000 square feet in the San Francisco Bay Area, with a supermajority of that concentraded in San Francisco. The 375,000 SF vacancy would represent one of the largest blocks of office space available in […]

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EOP Cuts Redwood Shores Office Rents Again

March 6, 2009

Tweet Back in January we had a post about falling rents in Redwood Shores. Less than two months later and Equity Office has cut the rates again. On February 19th, EOP cut rates at its 201-203 Redwood Shores buildings to $3.35 FS from $3.65 (-8%), and today EOP cut its asking rents at 255 & […]

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Symantec Ditching Cupertino?

March 4, 2009

Tweet We’ve heard that Symantec Corporation (SYMC: 24.39 -0.81%) intends on selling its remaining assets in Cupertino, and moving all of its Cupertino operations to facilities in Mountain View. Symantec recently sold a 90,000 square foot building at 10201 Torre Avenue to Snell & Co. back in August of 2008, and in addition still owns […]

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Office Furniture Orders Down 25% Year-Over-Year

March 4, 2009

Tweet The trade group for office furniture manufacturers, Business and Institutional Furniture Manufacturers Association (BIFMA), released its January 2009 numbers and furniture shipments have retrenched the most since the 2001-2002 recession.  BIFMA said that January orders fell 25% and shipments by 26%, measured year-over-year. In addition, for 2009 the industry is forecasting an overall decline of […]

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Nortel Cuts 3200 More; Santa Clara Vacancy At Risk

February 25, 2009

Tweet Nortel Networks (NT: 0.00 N/A), which filed for bankruptcy protection last month, announced today that it will be cutting an additional 3200 jobs (worldwide). The company has a significant presence in Santa Clara and depending on the gravity of the situation, a Nortel bankruptcy has the potential to deliver some 1M square feet of office […]

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Oracle Tower Going Sony?

February 23, 2009

Tweet Sony has been in the market for quite some time with a requirement of roughly 300,000-400,000 square feet. They’ve been rumored in the past to be looking at sites from the South Bay up the Peninsula, including Jay Paul’s Moffett Towers project. We’ve heard that they are now seriously considering the Oracle/BEA/Sobrato Tower at 488 N […]

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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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