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Mark to Market: Sunnyvale R&D Trades For $40 PSF

May 7, 2010

Tweet Well there you go, $40 psf on a building, and less than $1M/acre for a Sunnyvale R&D project. We’re back to the lows of 2003 as far as land costs go when Gilbane acquired the 12-acre site of Kifer Commerce Park for about $19 psf. The purchase of 645 Almanor by Trumark sets a […]

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Harmonic Leases 188K SF in North San Jose

December 28, 2009

Tweet It’s been a fairly busy December relative to the rest of the year. A couple big deals have been signed, including the Facebook and Rambus deals. Harmonic (HLIT: 6.83 +0.81%) has also made a big move by signing a lease about a week ago for 188,332 SF at Carlyle Realty’s North First Street project […]

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Cortina Systems’ Sunnyvale Deal

December 21, 2009

Tweet Back in the summer Wrightwood Capital foreclosed on Bordeaux Centre, the 2-building ~124,000 SF newly constructed project in Moffett Park. Since taking it back, they’ve leased one of the buildings to Cortina Systems. Last week we blogged about the Moffett Towers deal signed with Rambus. Since then, we’ve received some comments on the post, as […]

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Moffett Towers Lands Rambus For 125K SF

December 18, 2009

Tweet It took a few years, but Moffett Towers has landed a tenant (ht Phil). Rambus (RMBS: 11.555 +0.04%) has become the guinea pig.  It signed a lease for 125,000 square feet on December 15th. The 10-year term begins around July 2010 once its tenant improvements are completed. The space will be delivered turnkey. They […]

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Juniper Networks Renews 425K SF Headquarters Lease

November 4, 2009

Tweet Juniper Networks (JNPR: 21.85 +2.15%) has renewed its lease for the three buildings it occupies as its headquarters in Sunnyvale. The buildings are located at 1184, 1194, and 1220 N. Mathilda Avenue and were constructed between 2000 and 2002. Average floor plates are 35,400 (comparable to Moffett Towers interestingly enough – doubt it was […]

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Sunnyvale Town Center Goes Into Receivership

October 8, 2009

Tweet The Business Journal is reporting that receivers and advisors have been named on the Sunnyvale Town Center project. Jerry Hunt, president of Blake Hunt Ventures of Danville, and Quattro Realty Group were appointed as receivers. Meanwhile, Wilson Meany Sullivan, developer of The 88 condominium tower in San Jose, and Federal Realty Investment Trust, the […]

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NAILED: Sunnyvale Town Center

August 28, 2009

Tweet Sunnyvale Town Center is in a world of hurt. Lenders have pulled the plug on financing, and contractors are filing mechanic’s liens like they’re going out of style. This trouble has been looming for some time. RREEF and Peter Pau of Sand Hill Property Co. took the property down back in Q2 of 2007 […]

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Bordeaux Centre Taken By Lender

July 31, 2009

Tweet CBC, California Bavarian Corp, the developer of Bordeaux Centre in Sunnyvale has lost the property to its lender, Wrightwood Capital. The asset had debt on it of approximately $34M, and consists of two (2) 61,921 SF 3-story buildings, and is located at 1376-1380 Bordeaux Drive. The asset was taken back by the lender when […]

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RREEF Portfolio Under Distress

July 28, 2009

Tweet 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 […]

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Sunnyvale R&D Rents Were $6 to $7 ???

June 9, 2009

Tweet Check out this article from KCBS, which was partially discussed on the radio. $6 to $7 rents in Sunnyvale? When? For a few months during the dot com bubble a decade ago? I hope they took this out of context, otherwise it seems like a pretty misleading statement to make. “Rents were as high […]

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