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Best Buy to Close Downtown Palo Alto Magnolia Store; 2 Others

February 15, 2009

Tweet Best Buy (BBY: 30.8101 -0.23%), the parent company of Magnolia Audio Video has announced that it will be closing certain Magnolia stores and Palo Alto is on the list. Magnolia is located on a hard corner at 180 University Avenue, across from Lytton Plaza, in a 2-story office and retail building. The store was […]

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Larkspur Landing Financing Revealed

February 15, 2009

Tweet RetailTraffic is featuring an article called “On Barren Ground” discussing the continued freeze of debt markets. Most of the article comes as no surprise, but the article does reveal the nature of the debt that was applied to J.S. Rosenfield’s acquisition of Larkspur Landing last month. According to the article,  The financing was arranged through […]

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Black Eye For Marcus and Millichap

February 9, 2009

Tweet Over the past several years there has been a meteoric rise in the NNN-leased investment brokerage industry. I get emails every day from brokers all across the country looking to sell NNN leased investments from San Jose to places I’ve never even heard of. Some of these assets are high quality, and in great […]

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MadisonMarquette’s Distressed Retail Real Estate Index

February 5, 2009

Tweet TrafficCourt points us to a mini-study put out by MadisonMarquette’s Places Magazine  analyzing 63 metropolitan markets for signs of distress in the retail real estate sector. They put together a nice little analysis/index on the various markets to try to guage the markets which will likely produce the most distress. San Francisco and San Jose were […]

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Growth of Target, Visualized

February 2, 2009

Tweet We previously wrote a post on a map showing the growth of Walmart. The same developer of that map has now put one together showing Target’s growth. You can check it out on the developer’s website. Spotted at the TrafficCourt blog

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Cupertino Approves Main Street Project

February 2, 2009

Tweet Sand Hill Property Company has secured city council approval for its Main Street project in Cupertino. Sand Hill went into contract on the vacant 17.4 acre property in 2007 for $65M ($85 psf) from Hewlett Packard, and closed the transaction in early 2008 through a debt and equity package provided by Principal Real Estate […]

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Developer Lands Safeway For Tower 88 Project in San Jose

January 28, 2009

Tweet The developer of the Tower 88 project in San Jose has reportedly struck a deal with Safeway to anchor the hi-rise condominium project in downtown San Jose between 2nd and 3rd streets on San Fernando Avenue. According to the Mercury News, the city redevelopment agency will kick in about $1.85 Million for improvements, among which […]

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Starbucks Slashing 6700 Jobs; Closing 300 More Stores

January 28, 2009

Tweet Starbucks (SBUX: 78.59 -0.19%) announced that it will be slashing an additional 6700 jobs and closing 300 more stores. 200 of those stores will be in the U.S., and 100 overseas. These closings are in addition to the 600 announced last year, and which are not yet complete. This latest round is expected to […]

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RCA Data on Distressed and Troubled Assets

January 28, 2009

Tweet Found at RetailTraffic, the chart to the left (click for larger view) shows which sectors the distress is in commercial real estate. Development looks to be in the most distress, followed by office, retail, apartment, hotel, and industrial. The total dollar amount of this distress is $25.6B (across more than 1,000 assets). The chart […]

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Layoff Announcements; Expo San Jose Store Closing

January 26, 2009

Tweet There were a slew of layoff announcements today in addition to an announcement by Home Depot that it is closing it’s Expo Design Centers. There is one remaining Expo in the Bay Area, in San Jose on Almaden Expressway. Today’s layoffs include: Home Depot (7,000), Caterpillar (5,000), ING (7,000), Sprint Nextel (8,000), Pfizer (8,000), […]

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