Electronic Arts To Slash 1500 Jobs
November 10, 2009
Tweet Redwood Shores’ Electronic Arts (ERTS: 0.00 N/A) has announced that it will be cutting about 1500 additional jobs. These jobs cuts come on top of about 1100 jobs in February of 2009 cut in and 600 in October of 2008. The company recently bought its headquarters in Redwood Shores for some $233M.
Read More >>Getting Warmer: EOP Drops Redwood Shores Rents Again
May 28, 2009
Tweet We’ve spent some time in the past discussing the Redwood Shores as a sort of case study. We originally discussed the Redwood Shores submarket back in January of 2008 when we indicated that rent hikes in Redwood Shores were nothing more than hype, driven mainly by Equity Office. Let’s look at that market again. [...]
Read More >>Oracle to Acquire Sun Microsystems
April 20, 2009
Tweet After talks with IBM (IBM: 204.5143 -0.17%) fell apart, Sun Microsystems (JAVA: 0.00 N/A) has turned to Redwood Shores-based Oracle (ORCL: 34.51 +0.32%) to be its suitor. Interesting move to say the least, particularly since Oracle is expecting a 50% ROI within 2 years.
Read More >>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 & [...]
Read More >>Electronic Arts Cuts 1100; Panasonic 15,000
February 4, 2009
Tweet Redwood Shores-based Electronic Arts (ERTS: 0.00 N/A) has announced it is cutting 1,100 jobs and closing 12 facilities. This is in addition to previous 600 job cuts it had announced in October. Panasonic (PC: 0.00 N/A) also announced job cuts of 15,000 worldwide, and closures of 27 plants worldwide. It’s unclear how many of [...]
Read More >>Equity Office Drops Redwood Shores Rents; Highlights Trend
January 20, 2009
Tweet After Blackstone took over Equity Office in 2007, it quickly began raising asking rents at most of the office parks and buildings it acquired through the acquisition. Equity Office had a significant presence in Redwood Shores, where it owns numerous Class A assets on Shorebird, Twin Dolphin, and Redwood Shores Parkway. From the time [...]
Read More >>Cheaper Rents Bolster Fremont Activity
June 3, 2008
Tweet The Contra Costa times featured an article today highlighting the relatively inexpensive rents in Fremont as spurring demand for space. While Silicon Valley and the Peninsula have seen office rates increase over the past two years or so, Fremont has remained a fairly inexpensive market. Rents have moved up in Fremont, but compared to [...]
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