CPS 3rd Quarter Update and Thoughts on Leasing Activity
November 13, 2009
CPS emailed us their 3rd quarter Silicon Valley update. It’s a pretty good report that is a bit different than the typical quarterly report which just puts up vacancy and rental rates for each sub-market in that it stratifies the supply in the market, and also goes a bit beyond just a table of rents [...]
Read More >>Britannia R&D Park Picked Up for $38 PSF
September 29, 2009
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 to convert [...]
Tesla Motors Takes Down 350K SF in Palo Alto’s Stanford Research Park
August 18, 2009
In what will likely be one of the largest deals done this year, Tesla Motors has signed a deal with Stanford to lease a portion of the Agilent Technology buildings high up in Stanford Research Park.
According to Tesla’s press release, the facility will be used as the headquarters, as well as manufacturing site for Tesla’s [...]
RREEF Portfolio Under Distress
July 28, 2009
RREEF was an aggressive acquirer of Silicon Valley real estate over the past several years. The acquisition spree began in earnest when RREEF acquired a large tract of R&D buildings in Silicon Valley from Equity Office. Following up that was the massive acquisition of the Peery/Arrillaga portfolio in 2006. The portfolio consisted of some 5M [...]
Read More >>Equastone Drops 1331 California Circle
May 22, 2009
Equastone has short saled 1331 California Circle in Milpitas. The lender approved the sale at a rumoured $50 psf. Equastone acquired the building for $100 psf in July of 2007 from South Bay Development.
Equastone is facing trouble around the country. I discussed the distress at Equastone back in March.
Distress at Equastone LLC; Trouble in Milpitas, San Antonio, and Georgia
March 7, 2009
Over the past several years Equastone LLC was an aggressive buyer of office and industrial real estate. They have limited assets in the Bay Area, but two of their three real estate funds hold real estate which was acquired in large part during late 2006 to 2007.
Their assets are concentrated in large part in Texas, [...]
Avaya Brings Online 140,000 Square Feet of R&D and Office Space For Sublease in Milpitas
December 11, 2008
Avaya has put up for sublease approximately 140,000 square feet of office and R&D space in Milpitas. The 140,000 square feet is spread across two buildings, is Plug N’ Play with furniture, and has an asking rent of $1.25 NNN. The sublease runs through March 2012. The buildings are directly across from Cisco’s 410,000 square [...]
Read More >>Harmonic in the Market for 150-200K Square Feet in Sunnyvale
October 9, 2008
Harmonic Inc. (HLIT: 6.49 -0.31%), the Sunnyvale provider of headend products for cable, satellite, and IP networks is said to be in the market for roughly 150K square feet of R&D space. The company currently leases space north of 237 in the Moffett Park submarket of Sunnyvale with the headquarters building being owned by Network [...]
Read More >>RREEF Portfolio Sale Moving Forward
July 22, 2008
RREEF is moving forward with its sale of a twenty-building portfolio it acquired as part of a larger 120 building portfolio from Peery Arrillaga two years ago. RREEF was reported to be seeking $250 psf for the portfolio, but we’ve heard the price is coming in well below that mark, somewhere around $200 per foot.
The portion [...]
Google Leases Land at NASA for Development of New High Tech Campus
June 4, 2008
It’s been rumoured in the past that Google was nibbling at taking down space at Jay Paul’s Moffet Towers Project. In what could be construed as less than favorable news for Moffett Towers, insofar as Google is concerned, NASA announced today that it has inked a deal with Google for 42 acres of land at [...]
Read More >>