Vietnam Town Work Halted
November 12, 2007
Construction on Vietnam Town has been halted during the past 2 months or so. The slow pace of work has apparently caused the lender, United Commercial Bank, to halt disbursements until the issues which have caused the delays and slow pace of work to be resolved.
Vietnam Town in San Jose is a multi-tenant, 275,000 SF, [...]
Valley Transportation Authority Nabs The Mitchell Block
November 7, 2007
Sold, not sold, sold, not sold. Such went the story of The Mitchell Block in San Jose for years. It appears though this time, “sold” just might stick. The Mitchell Block, a 3.6 Acre parcel bound between Santa Clara and St. John streets between First and Market in downtown San Jose has finally sold to [...]
Read More >>In San Jose, 45 Means Historic
October 31, 2007
In the city of San Jose, once a building has reached forty-five years of age, then the structure is branded a historic resource. For developers, this rule can present a problem which takes significant monies and time to remedy, either reworking plans to reincorporate the structure or jumping through the hoops needed to get permission [...]
Read More >>San Jose’s Green Vision Plan - Build/Retrofit 50M Square Feet by 2015
October 15, 2007
As part of San Jose Mayor Chuck Reed’s “Green Vision” Plan, the city has laid out a set of 10 goals it looks to achieve in 15-years time. One of those goals is the development or rehab of 50M square feet of commercial structurs in 15-years. A lofty goal for sure, and one that may [...]
Read More >>Park Center Plaza Sold to BPG Properties
October 14, 2007
Divco West has finally sold the Park Center Plaza mixed-use complex in San Jose. The complex, which primarily consists of office space was sold to BPG Properties of Philadelphia for $169.5 Million.
The complex was acquired by Divco West through two transactions in 1998 and 1999 for approximately $110 Million.
San Jose Housing Development Still Hot; Oakland Not
October 8, 2007
As the city of San Jose gives the go-ahead and developers push on with residential projects in San Jose, Oakland is beginning to see constructions halts and plans being shelved.
The Olson Co. has halted construction on its 252 Unit, 7-Story CityWalk project in Oakland about half-way through construction. According to a BizJournal article, the developer [...]
Merrill Lynch Eliminating Jobs at First Franklin in San Jose
September 21, 2007
Merrill Lynch is eliminating jobs in San Jose at its First Franklin subsidiary, the subprime lender purchased approximately 10 months ago for $1.3 Billion. First Franklin is located at 2150 North First Street in San Jose.
The downturn in the Alt-A mortgage market has led many mortgage lenders and brokers to close up shop leading many [...]