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Facebook Looking to Leave Downtown Palo Alto

June 23, 2008

Tweet Faced with low single digit vacancy rates, sky-high rental rates, and rapid growth, Facebook is looking to leave downtown Palo Alto. Kara Swisher, who also revealed Facebook’s revenue numbers, is reporting that Facebook’s migration will begin as soon as the first quarter of 2009. This isn’t new news at all since¬†Facebook had been in […]

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Signs of Life at Moffett Towers in Sunnyvale

June 3, 2008

Tweet Moffett Towers, Jay Paul Company’s massive office project at the intersection of Highway 237 and Highway 101 in Sunnyvale has been on the prowl for tenants since before it broke ground two years ago. Since then, there haven’t been any reports of any tenants signing up to take the space. Initially Jay Paul brought […]

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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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Weakness in Rents Beginning to Show

March 17, 2008

Tweet Over the past 24 months, rental rates in the Silicon Valley, the Peninsula, and San Francisco have all seen a dramatic increases. Rental rates in some buildings have jumped nearly 75% over the past 24 months thanks to aggressive new owners looking to benefit from increased demand. During the past two quarters however, that […]

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Cornish & Carey Predicting a Flat 2008

February 22, 2008

Tweet Cornish and Carey held its annual forecast in Santa Clara this week. Along the lines of what I’ve been writing about, they are predicting rental rates to be static for 2008 for office and R&D, and vacancy rates to remain in a similar state. The fact is that there is a large amount of […]

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Q4 2007 Leasing Figures Not as Rosy

January 11, 2008

Tweet According to research put out by CBRE’s research team, overall vacancy rates in the Bay Area increased from 8.6% to 9.7% in the fourth quarter. The peninsula and San Francisco have remained strong while the East Bay has suffered some. In the south bay the lowest vacancy rates were in Mountain View, Palo Alto, […]

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Mathilda Place in Sunnyvale Sold

November 14, 2007

Tweet Mozart Development has sold Mathilda Place to JP Morgan¬† Asset Management. The sales price is reported to be $270 million dollars ($575 psf) and represents a 4.5% cap rate. The property is a three-building, 472,500 SF office campus sitting on 2.25 acres in the Sunnyvale Town Center. The project was constructed in 2002 and […]

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Shorenstein Picks Up Piece of Moffett Towers Debt

October 24, 2007

Tweet Shorenstein has purchased a $40M stake of the $216.8M construction financing debt package provided to Jay Paul Co. earlier this year for the construction of the Moffett Towers Project. The Moffett Towers project includes about 900,000 square feet of Class A Office Space and will eventually include an additional 900,000 square feet as well […]

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