Valley Fair Expansion To Begin In January

August 15, 2008

Tweet Westfield Valley Fair, the 1.5 million square feet mall on the border of Santa Clara and San Jose will break ground on a 500,000 square foot expansion in January. At $809 per square foot excluding anchors, the mall is one of the best performing shopping centers in the United States ringing up sales almost [...]

Second Quarter Silicon Valley Commercial Sales Activity

July 29, 2008

Tweet Given the state of the capital markets, it is not surprising to see that the assets which traded hands during the second quarter are far smaller in size than those traded this time last year. A combination of softening rents, dimmer outlook, and a brutal capital markets environment all contributed to the low transaction [...]

Brocade to Buy Foundry Networks; Combine for a 800K SF Silicon Valley Footprint

July 22, 2008

Tweet Brocade (NASDAQ:BRCD) today offered to acquire Foundry Networks (NASDAQ:FDRY) in a $3B deal. The two companies together represent roughly 800K square feet of silicon valley office space. Brocade recently executed a deal to acquire a 562K SF Build to Suit to Sale on North First Street. Foundry Network currently occupies 110K SF on Gold Street [...]

Great America/Cedar Fair Asking $110M for Great America

July 20, 2008

Tweet Cedar Fair, the owner of Great America Theme Park is reportedly asking north of $110 Million for the park and the land lease it has with the city of Santa Clara for the 181 acre parcel the park sits on. The annual minimum rent for the land lease is $5.3M and runs through 2039. [...]

Shorenstein Buys Mezzanine Debt on McCandless Towers

July 3, 2008

Tweet Shorenstein has acquired a $51.1M mezzanine loan collateralized by McCandless Towers in Santa Clara. Globe St. is reporting that the the debt was acquired at a discount. McCandless Towers was purchased by Tishman Speyer last July at a cost of $500 PSF ($213M), representing a 4.5% cap rate. McCandless Towers features two 11-story, 210,000 [...]

Google Leases Land at NASA for Development of New High Tech Campus

June 4, 2008

Tweet 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 [...]

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 [...]

The Yahoo-Microsoft Soap Opera Continues

June 3, 2008

Tweet The Yahoo-Microsoft fiasco continues. Attorneys for investors won the right yesterday in court to release meeting minutes and other details behind the so far non-acquisition of Yahoo! (NASDAQ: YHOO) by Microsoft (NASDAQ: MSFT). Not much of a commercial real estate angle here except to say that Yahoo owns a bunch of land in Santa [...]

NVIDIA Planning Two Million Square Feet Campus in Santa Clara

April 14, 2008

Tweet Coming on the heels of its recent $150M purchase of the San Tomas Business park, NVIDIA is working to put the pieces in place to develop approximately 2,000,000 square feet of office and R&D space on the site. The park and an adjacent 11-acre piece consists of 475,000 square feet of office and R&D space spread across [...]

NVIDIA Purchase of Santa Clara Campus Confirmed

March 1, 2008

Tweet An SEC filing by NVIDIA has confirmed the purchase of approximately 475K SF of Office Space and land from Harvest Properties and Blackrock in Santa Clara by NVIDIA. We previously reported on the purchase back on February 15th. The purchase of the park comes with a price tag of $150M, includes 25 acres, and 10 [...]