Posts filed under 'south-bay-real-estate-news'
Murray Engineers Buys Los Altos Office
Murray Engineers, Inc., a geotechnical engineering company, purchased the office building at 935 Fremont Ave. in Los Altos, CA, from Bio-Ops, Inc. for $2.4 million, or about $548 per square foot.The 4,381-square-foot building was constructed in 1934 in Santa Clara County. It was approximately two/thirds vacant at the time of sale.Boyd Smith and Greg Pickett of Cassidy Turley in East Palo Alto represented the seller. Brian McCarthy, also…
Kate Retzinger
CoStar Issues Call for Entries for 2011 Power Broker Awards
It's time for 2011's Top Dealmakers to stand up and be recognized!Each year, CoStar Group is proud to recognize the top commercial real estate brokerage firms and brokers who performed at the highest level and achieved remarkable sales and leasing success in their respective market.As the leading industry award recognizing the “best of the best” in commercial real estate, the CoStar Power Broker Awards provides a unique opportunity to validate…
CoStar Research
Parkview Apartments Sells for $2.9M
The Nagpal Trust acquired the Parkview Apartments at 4567-4575 Hamilton Ave. in San Jose, CA for $2.9 million, or about $145,000 per unit.The two-story multifamily buildings total 15,209 square feet and consist of 10 one-bedroom units, 9 two-bedroom units, and a single three-bedroom unit. It was built in 1963. The transaction was part of a 1031 Exchange.Eduardo Cerna of Marcus & Millichap in Palo Alto represented the seller, while Eduardo…
Greer Pruitt
December 20th, 2011 at 05:00am
Parkview Apartments Sells for $2.9M
The Nagpal Trust acquired the Parkview Apartments at 4567-4575 Hamilton Ave. in San Jose, CA for $2.9 million, or about $145,000 per unit.The two-story multifamily buildings total 15,209 square feet and consist of 10 one-bedroom units, 9 two-bedroom units, and a single three-bedroom unit. It was built in 1963. The transaction was part of a 1031 Exchange.Eduardo Cerna of Marcus & Millichap in Palo Alto represented the seller, while Eduardo…
Greer Pruitt
In The Pipeline: CoStar Development & Construction News for Dec. 11-17
In The Pipeline is a column on significant acquisitions of commercial land for sale, and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail.Follow me on Twitter for live news updates.Mayo Clinic Breaks…
Randyl Drummer
December 19th, 2011 at 05:00am
CoStar's People of Note (Dec. 4-10)
This week's People of Note includes the following markets: Chicago, Los Angeles, Orange County and Sacramento.CHICAGOCBRE Names Carris Head of Occupier PracticeJim Carris joined the Chicago office of CBRE (NYSE: CBG) as senior managing director. He will oversee the occupier practice along with Jamie Georgas who was recently promoted from director to managing director. They will lead 65 brokers in the tenant representation and g
Laurie Forbes
December 18th, 2011 at 07:00am
Market Trend: South Bay/San Jose's Industrial Vacancy Decreases to 11.2%
The South Bay/San Jose Industrial market ended the third quarter 2011 with a vacancy rate of 11.2%.The vacancy rate was down over the previous quarter, with net absorption totaling positive 259,568 square feet in the third quarter. Vacant sublease space decreased in the quarter, ending the quarter at 1,433,436 square feet.Tenants moving into large blocks of space in 2011 include: Alta Devices moving into 115,000 square feet at 545 Oakmead…
Justin Sumner
Nima Investments Sells Bascom Ave Bldg
Dr. Han P. Lo, a local urologist, purchased the office / retail building at 75 N. Bascom Ave. in San Jose, CA from Nima Investments LLC. It sold for $1,082,500, or about $442 per square foot.The 3,108-square-foot building was constructed in 2008 and is located on the corner of Bascom & Bailey Ave. It was 50 percent occupied at the time of sale. Dr. Lo will eventually move his practice to the subject property.Both parties were self-represented…
Alex Palacio
CoStar Issues Call for Entries for 2011 Power Broker Awards
It's time for 2011's Top Dealmakers to stand up and be recognized!Each year, CoStar Group is proud to recognize the top commercial real estate brokerage firms and brokers who performed at the highest level and achieved remarkable sales and leasing success in their respective market.As the leading industry award recognizing the “best of the best” in commercial real estate, the CoStar Power Broker Awards provides a unique opportunity to validate…
CoStar Research
December 18th, 2011 at 05:00am
CoStar Issues Call for Entries for 2011 Power Broker Awards
It's time for 2011's Top Dealmakers to stand up and be recognized!Each year, CoStar Group is proud to recognize the top commercial real estate brokerage firms and brokers who performed at the highest level and achieved remarkable sales and leasing success in their respective market.As the leading industry award recognizing the “best of the best” in commercial real estate, the CoStar Power Broker Awards provides a unique opportunity to validate…
CoStar Research
Market Trend: South Bay/San Jose's Industrial Vacancy Decreases to 11.2%
The South Bay/San Jose Industrial market ended the third quarter 2011 with a vacancy rate of 11.2%.The vacancy rate was down over the previous quarter, with net absorption totaling positive 259,568 square feet in the third quarter. Vacant sublease space decreased in the quarter, ending the quarter at 1,433,436 square feet.Tenants moving into large blocks of space in 2011 include: Alta Devices moving into 115,000 square feet at 545 Oakmead…
Justin Sumner
December 17th, 2011 at 05:00am
In The Pipeline: Construction and Development News for Dec. 4-10
In The Pipeline is a column on significant acquisitions of commercial land for sale, and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail.Follow me on Twitter for live news updates.President Obama:…
Randyl Drummer
CoStar's People of Note (Dec. 4-10)
This week's People of Note includes the following markets: Chicago, Los Angeles, Orange County and Sacramento.CHICAGOCBRE Names Carris Head of Occupier PracticeJim Carris joined the Chicago office of CBRE (NYSE: CBG) as senior managing director. He will oversee the occupier practice along with Jamie Georgas who was recently promoted from director to managing director. They will lead 65 brokers in the tenant representation and g
Laurie Forbes
December 16th, 2011 at 05:00am
School District Spends $8.5M on Palo Alto Bldg.
SummerHill Homes sold the facility at 525 San Antonio Road in Palo Alto, CA. The Palo Alto Unified School District purchased it for $8.5 million, or about $448 per square foot.The 18,964-square-foot building was slated for redevelopment, but the city council didn't approve the home developer's construction plans. The school district hopes to lease out the property in the interim while it finalizes plans for the facility.The buyer and seller…
Jeff Hitch
December 15th, 2011 at 07:00am
CoStar Issues Call for Entries for 2011 Power Broker Awards
It's time for 2011's Top Dealmakers to stand up and be recognized!Each year, CoStar Group is proud to recognize the top commercial real estate brokerage firms and brokers who performed at the highest level and achieved remarkable sales and leasing success in their respective market.As the leading industry award recognizing the “best of the best” in commercial real estate, the CoStar Power Broker Awards provides a unique opportunity to validate…
CoStar Research
School District Spends $8.5M on Palo Alto Bldg.
SummerHill Homes sold the facility at 525 San Antonio Road in Palo Alto, CA. The Palo Alto Unified School District purchased it for $8.5 million, or about $448 per square foot.The 18,964-square-foot building was slated for redevelopment, but the city council didn't approve the home developer's construction plans. The school district hopes to lease out the property in the interim while it finalizes plans for the facility.The buyer and seller…
Jeff Hitch
December 15th, 2011 at 05:00am
Private Trust Sells Wooddale Apts in Sunnyvale
A private trust sold the 30-unit Wooddale Apartments multifamily complex in Sunnyvale, CA to another private trust for $5.55 million, or $185,000 per unit.The 20,221-square-foot property consists of studios, one- and two-bedroom units. The property was built in 1968 at 1617 Queen Charlotte Dr. in the South Sunnyvale submarket of Santa Clara County.Jamie D'Alessandro and Brian Henry of Cassidy Turley in East Palo Alto represented the buyer…
Jessa Spainhower
School District Spends $8.5M on Palo Alto Bldg.
SummerHill Homes sold the facility at 525 San Antonio Road in Palo Alto, CA. The Palo Alto Unified School District purchased it for $8.5 million, or about $448 per square foot.The 18,964-square-foot building was slated for redevelopment, but the city council didn't approve the home developer's construction plans. The school district hopes to lease out the property in the interim while it finalizes plans for the facility.The buyer and seller…
Jeff Hitch
Santa Clara Industrial Sells for $3.9M
Hathaway Dinwiddie Construction Company sold the industrial building at 700 Nuttman Street in Santa Clara, CA to The Packard Humanities Institute, a non-profit dedicated to music, film preservation, archaeology and early education, for $3.861 million, or $78 per square foot.Built in 1979, the building totals 49,500 square feet and sits on 2.24 acres in the De La Cruz submarket of Santa Clara County.Scott Borgia of Cassidy Turley Northern…
Jeremy Hoffmann
December 14th, 2011 at 05:00am
Blackstone's Latest Real Estate Deal: Discounted? Yes. Distressed? Hardly.
Blackstone Group is reportedly poised to acquire a “distressed” portfolio of 16 office buildings in a deal that would value the properties at about $800 million, according to the Wall Street Journal.The 2.84 million-square-foot portfolio is currently owned by a Morgan Stanley real estate fund that acquired the property near the top of the market when it purchased Glenborough Realty Trust in 2006 in a $1.9 billion deal.While clearly being sold…
Mark Heschmeyer
Powershift Technology Pays $2.1M for Los Gatos Office
Lexor Builders, Inc. sold its office facility at 15585 Los Gatos Blvd. in Los Gatos, CA. Powershift Technology purchased it for $2,115,000, or about $407 per square foot.The seller will leaseback the 5,200-square-foot building for four months from the new owner. The office property was constructed in 1999 and sits on a .66-acre parcel.Bob Shepherd of Colliers International in San Jose, CA represented the buyer. Steve Hunt and Alice Teng…
Jeff Hitch
CoStar Issues Call for Entries for 2011 Power Broker Awards
It's time for 2011's Top Dealmakers to stand up and be recognized!Each year, CoStar Group is proud to recognize the top commercial real estate brokerage firms and brokers who performed at the highest level and achieved remarkable sales and leasing success in their respective market.As the leading industry award recognizing the “best of the best” in commercial real estate, the CoStar Power Broker Awards provides a unique opportunity to validate…
CoStar Research
December 13th, 2011 at 05:00am
Powershift Technology Pays $2.1M for Los Gatos Office
Lexor Builders, Inc. sold its office facility at 15585 Los Gatos Blvd. in Los Gatos, CA. Powershift Technology purchased it for $2,115,000, or about $407 per square foot.The seller will leaseback the 5,200-square-foot building for four months from the new owner. The office property was constructed in 1999 and sits on a .66-acre parcel.Bob Shepherd of Colliers International in San Jose, CA represented the buyer. Steve Hunt and Alice Teng…
Jeff Hitch
School District Spends $8.5M on Palo Alto Bldg.
SummerHill Homes sold the facility at 525 San Antonio Road in Palo Alto, CA. The Palo Alto Unified School District purchased it for $8.5 million, or about $448 per square foot.The 18,964-square-foot building was slated for redevelopment, but the city council didn't approve the home developer's construction plans. The school district hopes to lease out the property in the interim while it finalizes plans for the facility.The buyer and seller…
Jeff Hitch
December 12th, 2011 at 05:00am
CoStar's People of Note (Dec. 4-10)
This week's People of Note includes the following markets: Chicago, Los Angeles, Orange County and Sacramento.CHICAGOCBRE Names Carris Head of Occupier PracticeJim Carris joined the Chicago office of CBRE (NYSE: CBG) as senior managing director. He will oversee the occupier practice along with Jamie Georgas who was recently promoted from director to managing director. They will lead 65 brokers in the tenant representation and g
Laurie Forbes
December 11th, 2011 at 07:00am
Market Trend: South Bay/San Jose's Industrial Vacancy Decreases to 11.2%
The South Bay/San Jose Industrial market ended the third quarter 2011 with a vacancy rate of 11.2%.The vacancy rate was down over the previous quarter, with net absorption totaling positive 259,568 square feet in the third quarter. Vacant sublease space decreased in the quarter, ending the quarter at 1,433,436 square feet.Tenants moving into large blocks of space in 2011 include: Alta Devices moving into 115,000 square feet at 545 Oakmead…
Justin Sumner
Private Trust Sells Wooddale Apts in Sunnyvale
A private trust sold the 30-unit Wooddale Apartments multifamily complex in Sunnyvale, CA to another private trust for $5.55 million, or $185,000 per unit.The 20,221-square-foot property consists of studios, one- and two-bedroom units. The property was built in 1968 at 1617 Queen Charlotte Dr. in the South Sunnyvale submarket of Santa Clara County.Jamie D'Alessandro and Brian Henry of Cassidy Turley in East Palo Alto represented the buyer…
Jessa Spainhower
December 11th, 2011 at 05:00am
Parkview Apartments Sells for $2.9M
The Nagpal Trust acquired the Parkview Apartments at 4567-4575 Hamilton Ave. in San Jose, CA for $2.9 million, or about $145,000 per unit.The two-story multifamily buildings total 15,209 square feet and consist of 10 one-bedroom units, 9 two-bedroom units, and a single three-bedroom unit. It was built in 1963. The transaction was part of a 1031 Exchange.Eduardo Cerna of Marcus & Millichap in Palo Alto represented the seller, while Eduardo…
Greer Pruitt
CoStar's People of Note (Nov. 20-Dec. 3)
This week's People of Note includes the following markets: Atlanta, Houston, Long Island, Los Angeles, New York City, San Francisco and Washington, DC.WASHINGTON, DCBevirt To Head DC-Area Leasing at BrookfieldDave Bevirt joined Brookfield Office Properties (NYSE: BPO) as regional vice president of leasing for the firm’s Greater Washington, DC, region. He will manage the letting of Brookfield’s local assets, which encompass 7.5 million square…
Laurie Forbes
CoStar's People of Note (Dec. 4-10)
This week's People of Note includes the following markets: Chicago, Los Angeles, Orange County and Sacramento.CHICAGOCBRE Names Carris Head of Occupier PracticeJim Carris joined the Chicago office of CBRE (NYSE: CBG) as senior managing director. He will oversee the occupier practice along with Jamie Georgas who was recently promoted from director to managing director. They will lead 65 brokers in the tenant representation and g
Laurie Forbes
December 10th, 2011 at 05:00am
CoStar Issues Call for Entries for 2011 Power Broker Awards
It's time for 2011's Top Dealmakers to stand up and be recognized!Each year, CoStar Group is proud to recognize the top commercial real estate brokerage firms and brokers who performed at the highest level and achieved remarkable sales and leasing success in their respective market.As the leading industry award recognizing the “best of the best” in commercial real estate, the CoStar Power Broker Awards provides a unique opportunity to validate…
CoStar Research
Avaya Commits To 275,155-SF Lease in Santa Clara
Global business communications giant Avaya agreed to lease 275,155 square feet in a Santa Clara office complex owned by PREI and managed by Harvest Properties. The provider of Web-based communications and videoconferencing services currently occupies approximately 200,000 square feet at the property under a sublease.With the new, direct lease that goes into effect in mid-2012, Avaya will occupy about 43% of the 645,651 square-foot Towers at Great…
CoStar Research
CoStar's People of Note (Nov. 20-Dec. 3)
This week's People of Note includes the following markets: Atlanta, Houston, Long Island, Los Angeles, New York City, San Francisco and Washington, DC.WASHINGTON, DCBevirt To Head DC-Area Leasing at BrookfieldDave Bevirt joined Brookfield Office Properties (NYSE: BPO) as regional vice president of leasing for the firm’s Greater Washington, DC, region. He will manage the letting of Brookfield’s local assets, which encompass 7.5 million square…
Laurie Forbes
December 9th, 2011 at 05:00am
CoStar's People of Note (Nov. 20-Dec. 3)
This week's People of Note includes the following markets: Atlanta, Austin, Houston, Long Island, Los Angeles, New York City, San Francisco and Washington, DC.WASHINGTON, DCBevirt To Head DC-Area Leasing at BrookfieldDave Bevirt joined Brookfield Office Properties (NYSE: BPO) as regional vice president of leasing for the firm’s Greater Washington, DC, region. He will manage the letting of Brookfield’s local assets, which encompass 7.5 million…
Laurie Forbes
Santa Clara Industrial Sells for $3.9M
Hathaway Dinwiddie Construction Company sold the industrial building at 700 Nuttman Street in Santa Clara, CA to The Packard Humanities Institute, a non-profit dedicated to music, film preservation, archaeology and early education, for $3.861 million, or $78 per square foot.Built in 1979, the building totals 49,500 square feet and sits on 2.24 acres in the De La Cruz submarket of Santa Clara County.Scott Borgia of Cassidy Turley Northern…
Jeremy Hoffmann
December 8th, 2011 at 07:00am
Parkview Apartments Sells for $2.9M
The Nagpal Trust acquired the Parkview Apartments at 4567-4575 Hamilton Ave. in San Jose, CA for $2.9 million, or about $145,000 per unit.The two-story multifamily buildings total 15,209 square feet and consist of 10 one-bedroom units, 9 two-bedroom units, and a single three-bedroom unit. It was built in 1963. The transaction was part of a 1031 Exchange.Eduardo Cerna of Marcus & Millichap in Palo Alto represented the seller, while Eduardo…
Greer Pruitt
Palo Alto Unified School Dist Spends $8.5M on Area Retail
SummerHill Homes sold the retail facility at 525 San Antonio Rd. in Palo Alto, CA. The Palo Alto Unified School District purchased it for $8.5 million, or about $448 per square foot.The 18,964-square-foot building was slated for redevelopment, but the city council didn't approve the home developer's construction plans. The school district hopes to lease out the property in the interim while they finalize plans for the facility.The buyer…
Jeff Hitch
Blackstone's Latest Real Estate Deal: Discounted? Yes. Distressed? Hardly.
Blackstone Group is reportedly poised to acquire a “distressed” portfolio of 16 office buildings in a deal that would value the properties at about $800 million, according to the Wall Street Journal.The 2.84 million-square-foot portfolio is currently owned by a Morgan Stanley real estate fund that acquired the property near the top of the market when it purchased Glenborough Realty Trust in 2006 in a $1.9 billion deal.While clearly being sold…
Mark Heschmeyer
December 8th, 2011 at 05:00am
Blackstone's Latest Real Estate Deal: Discounted? Yes. Distressed? Hardly.
Blackstone Group is reportedly poised to acquire a “distressed” portfolio of 16 office buildings in a deal that would value the properties at about $800 million, according to the Wall Street Journal.The 2.84 million-square-foot portfolio is currently owned by a Morgan Stanley real estate fund that acquired the property near the top of the market when it purchased Glenborough Realty Trust in 2006 in a $1.9 billion deal.While clearly being sold…
Mark Heschmeyer
CoStar's People of Note (Nov. 20-Dec. 3)
This week's People of Note includes the following markets: Atlanta, Austin, Houston, Long Island, Los Angeles, New York City, San Francisco and Washington, DC.WASHINGTON, DCBevirt To Head DC-Area Leasing at BrookfieldDave Bevirt joined Brookfield Office Properties (NYSE: BPO) as regional vice president of leasing for the firm’s Greater Washington, DC, region. He will manage the letting of Brookfield’s local assets, which encompass 7.5 million…
Laurie Forbes
December 7th, 2011 at 05:00am
CoStar's People of Note (Nov. 20-Dec. 3)
This week's People of Note includes the following markets: Atlanta, Austin, Houston, Long Island, Los Angeles, New York City, San Francisco and Washington, DC.WASHINGTON, DCBevirt To Head DC-Area Leasing at BrookfieldDave Bevirt joined Brookfield Office Properties (NYSE: BPO) as regional vice president of leasing for the firm’s Greater Washington, DC, region. He will manage the letting of Brookfield’s local assets, which encompass 7.5 million…
Laurie Forbes
Private Trust Sells Wooddale Apts in Sunnyvale
A private trust sold the 30-unit Wooddale Apartments multifamily complex in Sunnyvale, CA to another private trust for $5.55 million, or $185,000 per unit.The 20,221-square-foot property consists of studios, one- and two-bedroom units. The property was built in 1968 at 1617 Queen Charlotte Dr. in the South Sunnyvale submarket of Santa Clara County.Jamie D'Alessandro and Brian Henry of Cassidy Turley in East Palo Alto represented the buyer…
Jessa Spainhower
Santa Clara Industrial Sells for $3.9M
Hathaway Dinwiddie Construction Company sold the industrial building at 700 Nuttman Street in Santa Clara, CA to The Packard Humanities Institute, a non-profit dedicated to music, film preservation, archaeology and early education, for $3.861 million, or $78 per square foot.Built in 1979, the building totals 49,500 square feet and sits on 2.24 acres in the De La Cruz submarket of Santa Clara County.Scott Borgia of Cassidy Turley Northern…
Jeremy Hoffmann
December 6th, 2011 at 05:00am
Palo Alto Unified School Dist Spends $8.5M on Area Retail
SummerHill Homes sold the retail facility at 525 San Antonio Rd. in Palo Alto, CA. The Palo Alto Unified School District purchased it for $8.5 million, or about $448 per square foot.The 18,964-square-foot building was slated for redevelopment, but the city council didn't approve the home developer's construction plans. The school district hopes to lease out the property in the interim while they finalize plans for the facility.The buyer…
Jeff Hitch
GE to Open $1B Global Software Center in East SF Bay Area
GE has announced plans to open a Global Software Center to be headquartered at the 585-acre Bishop Ranch Business Park in San Ramon, CA.As described by GE, the new “nerve center” in the East San Francisco Bay Area for the company's global software developers and engineers will employ about 400 software professionals.GE leased 225,000 square feet and should be in its new offices at Bishop Ranch 3 by mid-2012, said Ed Hagopian, executive vice…
Randyl Drummer
Private Trust Sells Wooddale Apts in Sunnyvale
A private trust sold the 30-unit Wooddale Apartments multifamily complex in Sunnyvale, CA to another private trust for $5.55 million, or $185,000 per unit.The 20,221-square-foot property consists of studios, one- and two-bedroom units. The property was built in 1968 at 1617 Queen Charlotte Dr. in the South Sunnyvale submarket of Santa Clara County.Jamie D'Alessandro and Brian Henry of Cassidy Turley in East Palo Alto represented the buyer…
Jessa Spainhower
December 5th, 2011 at 05:00am
GE to Open $1B Global Software Center in East SF Bay Area
GE has announced plans to open a Global Software Center to be headquartered at the 585-acre Bishop Ranch Business Park in San Ramon, CA.As described by GE, the new “nerve center” in the East San Francisco Bay Area for the company's global software developers and engineers will employ about 400 software professionals.GE leased 225,000 square feet and should be in its new offices at Bishop Ranch 3 by mid-2012, said Ed Hagopian, executive vice…
Randyl Drummer
Palo Alto Unified School Dist Spends $8.5M on Area Retail
SummerHill Homes sold the retail facility at 525 San Antonio Rd. in Palo Alto, CA. The Palo Alto Unified School District purchased it for $8.5 million, or about $448 per square foot.The 18,964-square-foot building was slated for redevelopment, but the city council didn't approve the home developer's construction plans. The school district hopes to lease out the property in the interim while they finalize plans for the facility.The buyer…
Jeff Hitch
December 4th, 2011 at 07:00am
GE to Open $1B Global Software Center in East SF Bay Area
GE has announced plans to open a Global Software Center to be headquartered at the 585-acre Bishop Ranch Business Park in San Ramon, CA.As described by GE, the new “nerve center” in the East San Francisco Bay Area for the company's global software developers and engineers will employ about 400 software professionals.GE leased 225,000 square feet and should be in its new offices at Bishop Ranch 3 by mid-2012, said Ed Hagopian, executive vice…
Randyl Drummer
Avaya Commits To 275,155-SF Lease in Santa Clara
Global business communications giant Avaya agreed to lease 275,155 square feet in a Santa Clara office complex owned by PREI and managed by Harvest Properties. The provider of Web-based communications and videoconferencing services currently occupies approximately 200,000 square feet at the property under a sublease.With the new, direct lease that goes into effect in mid-2012, Avaya will occupy about 43% of the 645,651 square-foot Towers at Great…
CoStar Research
December 4th, 2011 at 05:00am
GE to Open $1B Global Software Center in East SF Bay Area
GE has announced plans to open a Global Software Center to be headquartered at the 585-acre Bishop Ranch Business Park in San Ramon, CA.As described by GE, the new “nerve center” in the East San Francisco Bay Area for the company's global software developers and engineers will employ about 400 software professionals.GE leased 225,000 square feet and should be in its new offices at Bishop Ranch 3 by mid-2012, said Ed Hagopian, executive vice…
Randyl Drummer
Santa Clara Industrial Sells for $3.9M
Hathaway Dinwiddie Construction Company sold the industrial building at 700 Nuttman Street in Santa Clara, CA to The Packard Humanities Institute, a non-profit dedicated to music, film preservation, archaeology and early education, for $3.861 million, or $78 per square foot.Built in 1979, the building totals 49,500 square feet and sits on 2.24 acres in the De La Cruz submarket of Santa Clara County.Scott Borgia of Cassidy Turley Northern…
Jeremy Hoffmann
Avaya Commits To 275,155-SF Lease in Santa Clara
Global business communications giant Avaya agreed to lease 275,155 square feet in a Santa Clara office complex owned by PREI and managed by Harvest Properties. The provider of Web-based communications and videoconferencing services currently occupies approximately 200,000 square feet at the property under a sublease.With the new, direct lease that goes into effect in mid-2012, Avaya will occupy about 43% of the 645,651 square-foot Towers at Great…
CoStar Research
December 3rd, 2011 at 05:00am
Blackstone's Latest Real Estate Deal: Discounted? Yes. Distressed? Hardly.
Blackstone Group is reportedly poised to acquire a “distressed” portfolio of 16 office buildings in a deal that would value the properties at about $800 million, according to the Wall Street Journal.The 2.84 million-square-foot portfolio is currently owned by a Morgan Stanley real estate fund that acquired the property near the top of the market when it purchased Glenborough Realty Trust in 2006 in a $1.9 billion deal.While clearly being sold…
Mark Heschmeyer
Santa Clara Industrial Sells for $3.9M
Hathaway Dinwiddie Construction Company sold the industrial building at 700 Nuttman Street in Santa Clara, CA to The Packard Humanities Institute, a non-profit dedicated to music, film preservation, archaeology and early education, for $3.861 million, or $78 per square foot.Built in 1979, the building totals 49,500 square feet and sits on 2.24 acres in the De La Cruz submarket of Santa Clara County.Scott Borgia of Cassidy Turley Northern…
Jeremy Hoffmann
CoStar's People of Note (Nov. 13-19)
This week's People of Note includes the following markets: Atlanta, Dallas/Fort Worth, New York City, Orange County and Phoenix.ATLANTAGore To Head Cassidy Turley in AtlantaCassidy Turley recruited Clark Gore, a commercial real estate leader in Atlanta, as regional managing principal. He will serve as chief operator of the firm’s new local office.Gore’s first day at CT is December 5, only three months after the company established its…
Laurie Forbes
December 2nd, 2011 at 05:00am
Blackstone's Latest Real Estate Deal: Discounted? Yes. Distressed? Hardly.
Blackstone Group is reportedly poised to acquire a “distressed” portfolio of 16 office buildings in a deal that would value the properties at about $800 million, according to the Wall Street Journal.The 2.84 million-square-foot portfolio is currently owned by a Morgan Stanley real estate fund that acquired the property near the top of the market when it purchased Glenborough Realty Trust in 2006 in a $1.9 billion deal.While clearly being sold…
Mark Heschmeyer
December 1st, 2011 at 07:00am
GE to Open $1B Global Software Center in East SF Bay Area
GE has announced plans to open a Global Software Center to be headquartered at the 585-acre Bishop Ranch Business Park in San Ramon, CA.As described by GE, the new “nerve center” in the East San Francisco Bay Area for the company's global software developers and engineers will employ about 400 software professionals.GE leased 225,000 square feet and should be in its new offices at Bishop Ranch 3 by mid-2012, said Ed Hagopian, executive vice…
Randyl Drummer
Avaya Commits To 275,155-SF Lease in Santa Clara
Global business communications giant Avaya agreed to lease 275,155 square feet in a Santa Clara office complex owned by PREI and managed by Harvest Properties. The provider of Web-based communications and videoconferencing services currently occupies approximately 200,000 square feet at the property under a sublease.With the new, direct lease that goes into effect in mid-2012, Avaya will occupy about 43% of the 645,651 square-foot Towers at Great…
CoStar Research
Santa Clara Industrial Sells for $3.9M
Hathaway Dinwiddie Construction Company sold the industrial building at 700 Nuttman Street in Santa Clara, CA to The Packard Humanities Institute, a non-profit dedicated to music, film preservation, archaeology and early education, for $3.861 million, or $78 per square foot.Built in 1979, the building totals 49,500 square feet and sits on 2.24 acres in the De La Cruz submarket of Santa Clara County.Scott Borgia of Cassidy Turley Northern…
Jeremy Hoffmann
December 1st, 2011 at 05:00am
Real Money: SL Green Lines Up $1.5 Bil
SL Green Realty Corp. in New York closed on a $1.5 billion unsecured revolving credit facility, which refinances the company's previous $1.5 billion unsecured revolving credit facility that was set to mature in June 2012. The new investment grade facility currently bears interest at 150 basis points over LIBOR. The facility matures in November 2016, inclusive of the company's one-year as of right extension option and features a more flexible structure…
Mark Heschmeyer
E2V Aerospace & Defense Buys 68,000-SF Flex Bldg in Milpitas
D.R. Stephens & Company sold 765 Sycamore Dr. in Milpitas, CA to E2V Aerospace & Defense, Inc. for $6.37 million, or about $94 per square foot.This 67,760-square-foot flex building, constructed in 1982, is part of the Oak Creek Business Park in the Milpitas submarket. The building sits on 4.5 acres and features one loading dock and two drive-in bays.Kalil Jenab of Cassidy Turley BT Commercial in East Palo Alto, along with Nick Lazzarini of…
Cat Henderson
November 30th, 2011 at 05:00am
Colliers International Broker Awarded RICS Membership Designation
The Royal Institution of Chartered Surveyors (RICS), the leading qualification in regards to professional standards in land, property, and construction valuation, has welcomed a new member, Donn H. Byrne, Jr., the director of the Appraisal and Property Tax Division of Colliers International in Northern California, as its newest member.Membership in RICS is based on professional experience in real property valuation. With more than 20 years of…
Jeremy Hoffmann
Real Money: SL Green Lines Up $1.5 Bil
SL Green Realty Corp. in New York closed on a $1.5 billion unsecured revolving credit facility, which refinances the company's previous $1.5 billion unsecured revolving credit facility that was set to mature in June 2012. The new investment grade facility currently bears interest at 150 basis points over LIBOR. The facility matures in November 2016, inclusive of the company's one-year as of right extension option and features a more flexible structure…
Mark Heschmeyer
CoStar's People of Note (Nov. 13-19)
This week's People of Note includes the following markets: Atlanta, Dallas/Fort Worth, New York City, Orange County and Phoenix.ATLANTAGore To Head Cassidy Turley in AtlantaCassidy Turley recruited Clark Gore, a commercial real estate leader in Atlanta, as regional managing principal. He will serve as chief operator of the firm’s new local office.Gore’s first day at CT is December 5, only three months after the company established its…
Laurie Forbes
November 29th, 2011 at 05:00am
Kearny Real Estate Co Sells Office Bldg for $3.1M
Golden Hills Investments LLC purchased 2365 Quimby Rd. in San Jose, CA from Kearny Real Estate Company for $3.09 million, or about $77 per square foot.Built in 1996, the two-story, 40,184-square-foot building sits on 2.9 acres in San Jose East submarket. The buyer plans to renovate the property in the near future.Mike Miller of Colliers International in San Jose represented the buyer. The seller was represented in-house.Please see…
Cat Henderson
E2V Aerospace & Defense Buys 68,000-SF Flex Bldg in Milpitas
D.R. Stephens & Company sold 765 Sycamore Dr. in Milpitas, CA to E2V Aerospace & Defense, Inc. for $6.37 million, or about $94 per square foot.This 67,760-square-foot flex building, constructed in 1982, is part of the Oak Creek Business Park in the Milpitas submarket. The building sits on 4.5 acres and features one loading dock and two drive-in bays.Kalil Jenab of Cassidy Turley BT Commercial in East Palo Alto, along with Nick Lazzarini of…
Cat Henderson
November 28th, 2011 at 05:00am
GE to Open $1B Global Software Center in East SF Bay Area
GE has announced plans to open a Global Software Center to be headquartered at the 585-acre Bishop Ranch Business Park in San Ramon, CA.As described by GE, the new “nerve center” in the East San Francisco Bay Area for the company's global software developers and engineers will employ about 400 software professionals.GE leased 225,000 square feet and should be in its new offices at Bishop Ranch 3 by mid-2012, said Ed Hagopian, executive vice…
Randyl Drummer
Real Money: SL Green Lines Up $1.5 Bil
SL Green Realty Corp. in New York closed on a $1.5 billion unsecured revolving credit facility, which refinances the company's previous $1.5 billion unsecured revolving credit facility that was set to mature in June 2012. The new investment grade facility currently bears interest at 150 basis points over LIBOR. The facility matures in November 2016, inclusive of the company's one-year as of right extension option and features a more flexible structure…
Mark Heschmeyer
November 27th, 2011 at 07:00am
CoStar's People of Note (Nov. 5-12)
This week's People of Note includes the following markets: Atlanta, Birmingham, Cincinnati, Dallas/Fort Worth, Houston, Minneapolis, San Francisco and Seattle.SAN FRANCISCOKidder Mathews Adds 3 Veteran BrokersKidder Mathews expanded its Bay Area operations with the addition of Ben Pollock and Jarrett Evans as senior vice presidents and Jeffrey Hutchins as an associate vice president. The veteran brokers will be based in the firm’s downtown…
Laurie Forbes
Real Money: SL Green Lines Up $1.5 Bil
SL Green Realty Corp. in New York closed on a $1.5 billion unsecured revolving credit facility, which refinances the company's previous $1.5 billion unsecured revolving credit facility that was set to mature in June 2012. The new investment grade facility currently bears interest at 150 basis points over LIBOR. The facility matures in November 2016, inclusive of the company's one-year as of right extension option and features a more flexible structure…
Mark Heschmeyer
November 27th, 2011 at 05:00am
E2V Aerospace & Defense Buys 68,000-SF Flex Bldg in Milpitas
D.R. Stephens & Company sold 765 Sycamore Dr. in Milpitas, CA to E2V Aerospace & Defense, Inc. for $6.37 million, or about $94 per square foot.This 67,760-square-foot flex building, constructed in 1982, is part of the Oak Creek Business Park in the Milpitas submarket. The building sits on 4.5 acres and features one loading dock and two drive-in bays.Kalil Jenab of Cassidy Turley BT Commercial in East Palo Alto, along with Nick Lazzarini of…
Cat Henderson
CoStar's People of Note (Nov. 5-12)
This week's People of Note includes the following markets: Atlanta, Birmingham, Cincinnati, Dallas/Fort Worth, Houston, Minneapolis, San Francisco and Seattle.SAN FRANCISCOKidder Mathews Adds 3 Veteran BrokersKidder Mathews expanded its Bay Area operations with the addition of Ben Pollock and Jarrett Evans as senior vice presidents and Jeffrey Hutchins as an associate vice president. The veteran brokers will be based in the firm’s downtown…
Laurie Forbes
GE to Open $1B Global Software Center in East SF Bay Area
GE has announced plans to open a Global Software Center to be headquartered at the 585-acre Bishop Ranch Business Park in San Ramon, CA.As described by GE, the new “nerve center” in the East San Francisco Bay Area for the company's global software developers and engineers will employ about 400 software professionals.GE leased 225,000 square feet and should be in its new offices at Bishop Ranch 3 by mid-2012, said Ed Hagopian, executive vice…
Randyl Drummer
November 26th, 2011 at 05:00am
Real Money: SL Green Lines Up $1.5 Bil
SL Green Realty Corp. in New York closed on a $1.5 billion unsecured revolving credit facility, which refinances the company's previous $1.5 billion unsecured revolving credit facility that was set to mature in June 2012. The new investment grade facility currently bears interest at 150 basis points over LIBOR. The facility matures in November 2016, inclusive of the company's one-year as of right extension option and features a more flexible structure…
Mark Heschmeyer
In The Pipeline: Construction and Development News for Nov. 13-19
In The Pipeline is a column on significant acquisitions of commercial land for sale, and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail.Follow me on Twitter for live news updates.Resorts World Miami…
Randyl Drummer
Kidder Mathews Adds 3 Veteran Brokers
Kidder Mathews expanded its Bay Area operations with the addition of Ben Pollock and Jarrett Evans as senior vice presidents and Jeffrey Hutchins as an associate vice president. The veteran brokers will be based in the firm’s downtown San Francisco office.Pollock has more than three decades of commercial real estate experience, most recently at Jones Lang LaSalle. Since joining JLL in 2006, the investment specialist served as an executive vice…
Laurie Forbes
November 25th, 2011 at 05:00am
In The Pipeline: Construction and Development News for Nov. 13-19
In The Pipeline is a column on significant acquisitions of commercial land for sale, and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail.Follow me on Twitter for live news updates.Resorts World Miami…
Randyl Drummer
Kearny Real Estate Co Sells Office Bldg for $3.1M
Golden Hills Investments LLC purchased 2365 Quimby Rd. in San Jose, CA from Kearny Real Estate Company for $3.09 million, or about $77 per square foot.Built in 1996, the two-story, 40,184-square-foot building sits on 2.9 acres in San Jose East submarket. The buyer plans to renovate the property in the near future.Mike Miller of Colliers International in San Jose represented the buyer. The seller was represented in-house.Please see…
Cat Henderson
November 24th, 2011 at 07:00am
Kearny Real Estate Co Sells Office Bldg for $3.1M
Golden Hills Investments LLC purchased 2365 Quimby Rd. in San Jose, CA from Kearny Real Estate Company for $3.09 million, or about $77 per square foot.Built in 1996, the two-story, 40,184-square-foot building sits on 2.9 acres in San Jose East submarket. The buyer plans to renovate the property in the near future.Mike Miller of Colliers International in San Jose represented the buyer. The seller was represented in-house.Please see…
Cat Henderson
Kidder Mathews Adds 3 Veteran Brokers
Kidder Mathews expanded its Bay Area operations with the addition of Ben Pollock and Jarrett Evans as senior vice presidents and Jeffrey Hutchins as an associate vice president. The veteran brokers will be based in the firm’s downtown San Francisco office.Pollock has more than three decades of commercial real estate experience, most recently at Jones Lang LaSalle. Since joining JLL in 2006, the investment specialist served as an executive vice…
Laurie Forbes
November 24th, 2011 at 05:00am
GE to Open $1B Global Software Center in East SF Bay Area
GE has announced plans to open a Global Software Center to be headquartered at the 585-acre Bishop Ranch Business Park in San Ramon, CA.As described by GE, the new “nerve center” in the East San Francisco Bay Area for the company's global software developers and engineers will employ about 400 software professionals.GE leased 225,000 square feet and should be in its new offices at Bishop Ranch 3 by mid-2012, said Ed Hagopian, executive vice…
Randyl Drummer
Market Trend: South Bay/San Jose's Retail Vacancy Decreases to 5.3%
The South Bay/San Jose retail market experienced a slight improvement in market conditions in the third quarter 2011.The vacancy rate went from 5.6% in the previous quarter to 5.3% in the current quarter. Net absorption was positive 424,588 square feet, and vacant sublease space decreased by 21,830 square feet.Tenants moving into large blocks of space in 2011 include: See Grins RV moving into 125,597 square feet at 7900 Arroyo Cir; Safeway…
Justin Sumner
November 23rd, 2011 at 05:00am
In The Pipeline: Construction and Development News for Nov. 13-19
In The Pipeline is a column on significant acquisitions of commercial land for sale, and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail.Follow me on Twitter for live news updates.Resorts World Miami…
Randyl Drummer
Kidder Mathews Adds 3 Veteran Brokers
Kidder Mathews expanded its Bay Area operations with the addition of Ben Pollock and Jarrett Evans as senior vice presidents and Jeffrey Hutchins as an associate vice president. The veteran brokers will be based in the firm’s downtown San Francisco office.Pollock has more than three decades of commercial real estate experience, most recently at Jones Lang LaSalle. Since joining JLL in 2006, the investment specialist served as an executive vice…
Laurie Forbes
November 22nd, 2011 at 05:00am
Kearny Real Estate Co Sells Office Bldg for $3.1M
Golden Hills Investments LLC purchased 2365 Quimby Rd. in San Jose, CA from Kearny Real Estate Company for $3.09 million, or about $77 per square foot.Built in 1996, the two-story, 40,184-square-foot building sits on 2.9 acres in San Jose East submarket. The buyer plans to renovate the property in the near future.Mike Miller of Colliers International in San Jose represented the buyer. The seller was represented in-house.Please see…
Cat Henderson
E2V Aerospace & Defense Buys 68,000-SF Flex Bldg in Milpitas
D.R. Stephens & Company sold 765 Sycamore Dr. in Milpitas, CA to E2V Aerospace & Defense, Inc. for $6.37 million, or about $94 per square foot.This 67,760-square-foot flex building, constructed in 1982, is part of the Oak Creek Business Park in the Milpitas submarket. The building sits on 4.5 acres and features one loading dock and two drive-in bays.Kalil Jenab of Cassidy Turley BT Commercial in East Palo Alto, along with Nick Lazzarini of…
Cat Henderson
November 21st, 2011 at 05:00am
Colliers International Broker Awarded RICS Membership Designation
The Royal Institution of Chartered Surveyors (RICS), the leading qualification in regards to professional standards in land, property, and construction valuation, has welcomed a new member, Donn H. Byrne, Jr., the director of the Appraisal and Property Tax Division of Colliers International in Northern California, as its newest member.Membership in RICS is based on professional experience in real property valuation. With more than 20 years of…
Jeremy Hoffmann
Omnicell Leases 99,880 SF at Middlefield Station
Omnicell, Inc., a leading provider of automated and business information solutions for the healthcare industry, signed a long-term pre-lease agreement as sole tenant for the proposed Middlefield Station office building at 590 E. Middlefield Rd. in Mountain View, CA.The three-story building will total 99,880 square feet and feature solar panels and electric charging stations. Four Corners Properties is the owner/developer of the project. Construction…
Alex Palacio
November 20th, 2011 at 07:00am
CoStar's People of Note (Nov. 5-12)
This week's People of Note includes the following markets: Atlanta, Birmingham, Cincinnati, Dallas/Fort Worth, Houston, Minneapolis, San Francisco and Seattle.SAN FRANCISCOKidder Mathews Adds 3 Veteran BrokersKidder Mathews expanded its Bay Area operations with the addition of Ben Pollock and Jarrett Evans as senior vice presidents and Jeffrey Hutchins as an associate vice president. The veteran brokers will be based in the firm’s downtown…
Laurie Forbes
E2V Aerospace & Defense Buys 68,000-SF Flex Bldg in Milpitas
D.R. Stephens & Company sold 765 Sycamore Dr. in Milpitas, CA to E2V Aerospace & Defense, Inc. for $6.37 million, or about $94 per square foot.This 67,760-square-foot flex building, constructed in 1982, is part of the Oak Creek Business Park in the Milpitas submarket. The building sits on 4.5 acres and features one loading dock and two drive-in bays.Kalil Jenab of Cassidy Turley BT Commercial in East Palo Alto, along with Nick Lazzarini of…
Cat Henderson
November 20th, 2011 at 05:00am
DR Stephens & Co Acquires Moutain View Flex Bldg
D.R. Stephens & Company, a real estate investment and management firm, acquired the flex building at 161 E. Evelyn Ave. in Mountain View, CA from South Bay Development Company for $5.95 million, or about $318 per square foot.The 18,693-square-foot facility was constructed in 1981 and fully renovated in 2000. It was 100% occupied by Duarte Design at the time of sale.Kalil Jenab of Cassidy Turley BT Commercial in East Palo Alto represented…
Kate Retzinger
E2V Aerospace & Defense Buys 68,000-SF Flex Bldg in Milpitas
D.R. Stephens & Company sold 765 Sycamore Dr. in Milpitas, CA to E2V Aerospace & Defense, Inc. for $6.37 million, or about $94 per square foot.This 67,760-square-foot flex building, constructed in 1982, is part of the Oak Creek Business Park in the Milpitas submarket. The building sits on 4.5 acres and features one loading dock and two drive-in bays.Kalil Jenab of Cassidy Turley BT Commercial in East Palo Alto, along with Nick Lazzarini of…
Cat Henderson
Market Trend: South Bay/San Jose's Retail Vacancy Decreases to 5.3%
The South Bay/San Jose retail market experienced a slight improvement in market conditions in the third quarter 2011.The vacancy rate went from 5.6% in the previous quarter to 5.3% in the current quarter. Net absorption was positive 424,588 square feet, and vacant sublease space decreased by 21,830 square feet.Tenants moving into large blocks of space in 2011 include: See Grins RV moving into 125,597 square feet at 7900 Arroyo Cir; Safeway…
Justin Sumner
November 19th, 2011 at 05:00am
CoStar's People of Note (Oct. 30-Nov. 5)
This week's People of Note includes the following markets: Chicago, Dallas, Denver, East Bay, New York City, Retail, San Francisco, South Bay and Washington, DC.SAN FRANCISCOJLL Launches West Coast Construction GroupJones Lang LaSalle (NYSE:JLL) formed a new division in San Francisco that will provide construction management, general contracting and design/build services along the West Coast. At the outset the construction group w
Laurie Forbes
Colliers International Broker Awarded RICS Membership Designation
The Royal Institution of Chartered Surveyors (RICS), the leading qualification in regards to professional standards in land, property, and construction valuation, has welcomed a new member, Donn H. Byrne, Jr., the director of the Appraisal and Property Tax Division of Colliers International in Northern California, as its newest member.Membership in RICS is based on professional experience in real property valuation. With more than 20 years of…
Jeremy Hoffmann
November 18th, 2011 at 05:00am
In The Pipeline: Construction and Development News for Nov. 13-19
In The Pipeline is a column on significant acquisitions of commercial land for sale, and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail.Follow me on Twitter for live news updates.Resorts World Miami…
Randyl Drummer
DR Stephens & Co Acquires Moutain View Flex Bldg
D.R. Stephens & Company, a real estate investment and management firm, acquired the flex building at 161 E. Evelyn Ave. in Mountain View, CA from South Bay Development Company for $5.95 million, or about $318 per square foot.The 18,693-square-foot facility was constructed in 1981 and fully renovated in 2000. It was 100% occupied by Duarte Design at the time of sale.Kalil Jenab of Cassidy Turley BT Commercial in East Palo Alto represented…
Kate Retzinger
November 17th, 2011 at 07:00am
SAP Swells to 135,000 SF Following New Lease, Renewal in Palo Alto
SAP, a global leader in business software solutions, signed two separate ten-year agreements at The Stanford Research Park to expand its space to 135,000 square feet.The first deal was a renewal of approximately 92,700 square feet across three office buildings located at 3475 Deer Creek Rd. in Palo Alto. The second deal was for an additional office building of approximately 42,300 SF at 3450 Hillview Ave., also in Palo Alto.WSJ Properties…
Alex Palacio
San Jose Office Bldg Sells for $1M
A private party acquired 6000 Hellyer Ave. in San Jose, CA from Altera Real Estate for $1 million, or about $164 per square foot.The 6,093-square-foot office building was constructed in 2006 and is part of the Hellyer Commons building park. The buyer plans to open a pharmaceutical company in the near future.Robert Badagliacco of Sperry Van Ness – SV Advisors in San Jose represented seller. Mike Miller of Colliers International in San Jose…
Cat Henderson
November 17th, 2011 at 05:00am
Kidder Mathews Adds 3 Veteran Brokers
Kidder Mathews expanded its Bay Area operations with the addition of Ben Pollock and Jarrett Evans as senior vice presidents and Jeffrey Hutchins as an associate vice president. The veteran brokers will be based in the firm’s downtown San Francisco office.Pollock has more than three decades of commercial real estate experience, most recently at Jones Lang LaSalle. Since joining JLL in 2006, the investment specialist served as an executive vice…
Laurie Forbes
CoStar's People of Note (Nov. 5-12)
This week's People of Note includes the following markets: Atlanta, Birmingham, Cincinnati, Dallas/Fort Worth, Houston, Minneapolis, San Francisco and Seattle.SAN FRANCISCOKidder Mathews Adds 3 Veteran BrokersKidder Mathews expanded its Bay Area operations with the addition of Ben Pollock and Jarrett Evans as senior vice presidents and Jeffrey Hutchins as an associate vice president. The veteran brokers will be based in the firm’s downtown…
Laurie Forbes
November 16th, 2011 at 05:00am
Kidder Mathews Adds 3 Veteran Brokers
Kidder Mathews expanded its Bay Area operations with the addition of Ben Pollock and Jarrett Evans as senior vice presidents and Jeffrey Hutchins as an associate vice president. The veteran brokers will be based in the firm’s downtown San Francisco office.Pollock has more than three decades of commercial real estate experience, most recently at Jones Lang LaSalle. Since joining JLL in 2006, the investment specialist served as an executive vice…
Laurie Forbes
Omnicell Leases 99,880 SF at Middlefield Station
Omnicell, Inc., a leading provider of automated and business information solutions for the healthcare industry, signed a long-term pre-lease agreement as sole tenant for the proposed Middlefield Station office building at 590 E. Middlefield Rd. in Mountain View, CA.The three-story building will total 99,880 square feet and feature solar panels and electric charging stations. Four Corners Properties is the owner/developer of the project. Construction…
Alex Palacio
Market Trend: South Bay/San Jose's Retail Vacancy Decreases to 5.3%
The South Bay/San Jose retail market experienced a slight improvement in market conditions in the third quarter 2011.The vacancy rate went from 5.6% in the previous quarter to 5.3% in the current quarter. Net absorption was positive 424,588 square feet, and vacant sublease space decreased by 21,830 square feet.Tenants moving into large blocks of space in 2011 include: See Grins RV moving into 125,597 square feet at 7900 Arroyo Cir; Safeway…
Justin Sumner
November 15th, 2011 at 05:00am
SAP Swells to 135,000 SF Following New Lease, Renewal in Palo Alto
SAP, a global leader in business software solutions, signed two separate ten-year agreements at The Stanford Research Park to expand its space to 135,000 square feet.The first deal was a renewal of approximately 92,700 square feet across three office buildings located at 3475 Deer Creek Rd. in Palo Alto. The second deal was for an additional office building of approximately 42,300 SF at 3450 Hillview Ave., also in Palo Alto.WSJ Properties…
Alex Palacio
CoStar's People of Note (Oct. 30-Nov. 5)
This week's People of Note includes the following markets: Chicago, Dallas, Denver, East Bay, New York City, Retail, San Francisco, South Bay and Washington, DC.SAN FRANCISCOJLL Launches West Coast Construction GroupJones Lang LaSalle (NYSE:JLL) formed a new division in San Francisco that will provide construction management, general contracting and design/build services along the West Coast. At the outset the construction group w
Laurie Forbes
November 14th, 2011 at 05:00am
CoStar's People of Note (Oct. 30-Nov. 5)
This week's People of Note includes the following markets: Chicago, Dallas, Denver, East Bay, New York City, Retail, San Francisco, South Bay and Washington, DC.SAN FRANCISCOJLL Launches West Coast Construction GroupJones Lang LaSalle (NYSE:JLL) formed a new division in San Francisco that will provide construction management, general contracting and design/build services along the West Coast. At the outset the construction group w
Laurie Forbes
Storage Mart Pays $3.3M for Morgan Hill Industrial
Storage Mart, headquartered in Missouri, acquired the 61,720-square-foot, self-storage facility in Morgan Hill, CA from Stonecrest Managers, Inc. for $3.3 million, or about $53 per square foot.The new Storage Mart location was delivered in 1991. The facility is located on a main artery near the center of Morgan Hill. There are office suites located in the front and self-storage is in rear of the property.Scott Prosser of CBRE in San Jose…
Jeff Hitch
November 13th, 2011 at 07:00am
CoStar's People of Note (Oct. 30-Nov. 5)
This week's People of Note includes the following markets: Chicago, Dallas, Denver, East Bay, New York City, Retail, San Francisco, South Bay and Washington, DC.SAN FRANCISCOJLL Launches West Coast Construction GroupJones Lang LaSalle (NYSE:JLL) formed a new division in San Francisco that will provide construction management, general contracting and design/build services along the West Coast. At the outset the construction group w
Laurie Forbes
In The Pipeline: Construction and Development News for Oct. 30 – Nov. 5
In The Pipeline is a column on significant acquisitions of commercial land for sale, and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail.Follow me on Twitter for live news updates.Nation’s Largest…
Randyl Drummer
YRC Worldwide Sells Industrial Building for $1.3M
Tong HUA (USA), Inc. purchased 20740 Spence Rd. in Salinas, CA from YRC Worldwide, Inc. for $1,265,000, or about $164 per square foot.Constructed in 1970, the 7,700-square-foot industrial building sits on five acres and features 21 dock-high doors. The buyer plans to operate a recycling plant at the site.Mike Bassetti and Michael Schoeder of Cassidy Turley BT Commercial in Salinas represented the seller, Yellow Freight System, Inc. Greg…
Cat Henderson
November 13th, 2011 at 05:00am
Real Money: Kimco, Vornado, American Capital Each Pull in $1 Bil. or More
Kimco Realty Corp. in New Hyde Park, NY, closed on a $1.75 billion unsecured revolving credit facility replacing both the company's $1.5 billion unsecured U.S. credit facility and a $250 million Canadian credit facility. The new facility, which can be increased to $2.25 billion through an accordion feature, is scheduled to mature on Oct. 27, 2015, with a provision to extend for an additional year. Interest accrues at an annual rate of LIBOR plus…
Mark Heschmeyer
Fine Wine Turned to Vinegar
Premier Pacific Vineyard Management LLC of Napa, CA, is ceasing all operations at its 36 vineyards in California and Oregon by the end of the year and letting go 120 employees.Premier Pacific is a CalPERS (California Public Employees Retirement Systems)-backed venture that was formed in 2002 to develop and then sale the fine wine vineyards. CalPERS, which is in the process of restructuring its real estate investments, has decided to cut its losses…
Mark Heschmeyer
The Swig Company Receives Energy Star Nod for Mountain Bay Plaza
The Swig Company received Energy Star certification for its Mountain Bay Plaza office building at 444 Castro Street in Mountain View, CA.To qualify for Energy Star certification, a building must earn a 75 or higher on EPA’s 1-100 energy performance scale. This would mean the building performs better than at least 75% of similar buildings nationwide. Commercial buildings that earn the Energy Star use an average of 35 percent less energy than…
Luis Armendariz
November 12th, 2011 at 05:00am
Storage Mart Pays $3.3M for Morgan Hill Industrial
Storage Mart, headquartered in Missouri, acquired the 61,720-square-foot, self-storage facility in Morgan Hill, CA from Stonecrest Managers, Inc. for $3.3 million, or about $53 per square foot.The new Storage Mart location was delivered in 1991. The facility is located on a main artery near the center of Morgan Hill. There are office suites located in the front and self-storage is in rear of the property.Scott Prosser of CBRE in San Jose…
Jeff Hitch
Omnicell Leases 99,880 SF at Middlefield Station
Omnicell, Inc., a leading provider of automated and business information solutions for the healthcare industry, signed a long-term pre-lease agreement as sole tenant for the proposed Middlefield Station office building at 590 E. Middlefield Rd. in Mountain View, CA.The three-story building will total 99,880 square feet and feature solar panels and electric charging stations. Four Corners Properties is the owner/developer of the project. Construction…
Alex Palacio
First Community Housing Buys .99 Acres in San Jose
First Community Housing acquired 0.99 acres of development land in San Jose, CA, where it plans to construct a new multifamily building with street-level retail and office space.Bogomilsky Engineering & Construction sold the vacant land for $2.61 million, or about $61 per square foot. The parcel is located at 1030 Leigh Ave. Details about the proposed multifamily building were not disclosed.The seller was represented in-house.Please…
Kate Retzinger
November 11th, 2011 at 05:00am
PJ Property Dev Acquires Santa Clara Industrial
Chris Ptarcinski with PJ Property Dev LLC purchased the 11,285-square-foot industrial building at 3355 Woodward Ave. in Santa Clara, CA for $1,298,000, or about $115 per square foot, from the Trabert JE Family Trust.The single-story facility was built in 1976 and sits on a half-acre lot. It is zoned MH and has about 1,700 square feet of built-out office space. The clear height is 16 feet, and the building features two drive-in bays.Rodney…
Melanie Tucker
Storage Mart Pays $3.3M for Morgan Hill Industrial
Storage Mart, headquartered in Missouri, acquired the 61,720-square-foot, self-storage facility in Morgan Hill, CA from Stonecrest Managers, Inc. for $3.3 million, or about $53 per square foot.The new Storage Mart location was delivered in 1991. The facility is located on a main artery near the center of Morgan Hill. There are office suites located in the front and self-storage is in rear of the property.Scott Prosser of CBRE in San Jose…
Jeff Hitch
November 10th, 2011 at 07:00am
First Community Housing Buys .99 Acres in San Jose
First Community Housing acquired 0.99 acres of development land in San Jose, CA, where it plans to construct a new multifamily building with street-level retail and office space.Bogomilsky Engineering & Construction sold the vacant land for $2.61 million, or about $61 per square foot. The parcel is located at 1030 Leigh Ave. Details about the proposed multifamily building were not disclosed.The seller was represented in-house.Please…
Kate Retzinger
CoStar's People of Note (Oct. 30-Nov. 5)
This week's People of Note includes the following markets: Chicago, Dallas, Denver, East Bay, New York City, Retail, San Francisco, South Bay and Washington, DC.SAN FRANCISCOJLL Launches West Coast Construction GroupJones Lang LaSalle (NYSE:JLL) formed a new division in San Francisco that will provide construction management, general contracting and design/build services along the West Coast. At the outset the construction group w
Laurie Forbes
San Jose Office Bldg Sells for $1M
A private party acquired 6000 Hellyer Ave. in San Jose, CA from Altera Real Estate for $1 million, or about $164 per square foot.The 6,093-square-foot office building was constructed in 2006 and is part of the Hellyer Commons building park. The buyer plans to open a pharmaceutical company in the near future.Robert Badagliacco of Sperry Van Ness – SV Advisors in San Jose represented seller. Mike Miller of Colliers International in San Jose…
Cat Henderson
November 10th, 2011 at 05:00am
Lagoon Apartments Sell for $5.9M
Investors acquired the Lagoon Apartments for a price of $5.85 million, or nearly $244,000 per unit, from Maggetti Properties.The 24-unit multifamily complex is located at 16945 Roberts Rd in Los Gatos, CA. All units of the complex are two-bed, one-bath units. The building was built in 1969 and sits on a single parcel of 47,916 square feet. Community amenities include a fenced-in pool, covered carports and laundry facilities.Victoria Maggetti…
Luis Armendariz
CoStar's People of Note (Oct. 30-Nov. 5)
This week's People of Note includes the following markets: Chicago, Dallas, Denver, East Bay, New York City, Retail, San Francisco, South Bay and Washington, DC.SAN FRANCISCOJLL Launches West Coast Construction GroupJones Lang LaSalle (NYSE:JLL) formed a new division in San Francisco that will provide construction management, general contracting and design/build services along the West Coast. At the outset the construction group w
Laurie Forbes
November 9th, 2011 at 05:00am
Storage Mart Pays $3.3M for Morgan Hill Industrial
Storage Mart, headquartered in Missouri, acquired the 61,720-square-foot, self-storage facility in Morgan Hill, CA from Stonecrest Managers, Inc. for $3.3 million, or about $53 per square foot.The new Storage Mart location was delivered in 1991. The facility is located on a main artery near the center of Morgan Hill. There are office suites located in the front and self-storage is in rear of the property.Scott Prosser of CBRE in San Jose…
Jeff Hitch
Johnson-Himsl Partnership Purchases Adjacent Properties in Palo Alto
Johnson-Himsl Partnership acquired two fully-leased buildings from Premier Properties Management for $4.2 million total.The buildings are located at 2221-2225 El Camino Real and 2233 El Camino Real in Palo Alto, CA, and consist of 6,750 square feet of retail and office space. Both properties are fully leased and there are no intentions for redevelopment in the near term.Gil Marino represented the seller. Kevin Cunningham of Cornish & Carey…
Greer Pruitt
November 8th, 2011 at 05:00am
First Community Housing Buys .99 Acres in San Jose
First Community Housing acquired 0.99 acres of development land in San Jose, CA, where it plans to construct a new multifamily building with street-level retail and office space.Bogomilsky Engineering & Construction sold the vacant land for $2.61 million, or about $61 per square foot. The parcel is located at 1030 Leigh Ave. Details about the proposed multifamily building were not disclosed.The seller was represented in-house.Please…
Kate Retzinger
Prometheus Real Estate Group Secures Financing for Mansion Grove Apts
Prometheus Real Estate Group, Inc. secured a $10 million supplemental mortgage for the Mansion Grove Apartments at 502 Mansion Park Dr. in Santa Clara, CA. Financing was based on a 5-year term and a 30-year amortization schedule.Jeffrey Weidell, executive vice president and managing director of NorthMarq Capital's San Francisco Regional office arranged the financing.Built in 1988, the Mansion Grove Apartments feature 1,000 apartment units…
Luis Armendariz
November 7th, 2011 at 05:00am
Johnson-Himsl Partnership Purchases Adjacent Properties in Palo Alto
Johnson-Himsl Partnership acquired two fully-leased buildings from Premier Properties Management for $4.2 million total.The buildings are located at 2221-2225 El Camino Real and 2233 El Camino Real in Palo Alto, CA, and consist of 6,750 square feet of retail and office space. Both properties are fully leased and there are no intentions for redevelopment in the near term.Gil Marino represented the seller. Kevin Cunningham of Cornish & Carey…
Greer Pruitt
PJ Property Dev Acquires Santa Clara Industrial
Chris Ptarcinski with PJ Property Dev LLC purchased the 11,285-square-foot industrial building at 3355 Woodward Ave. in Santa Clara, CA for $1,298,000, or about $115 per square foot, from the Trabert JE Family Trust.The single-story facility was built in 1976 and sits on a half-acre lot. It is zoned MH and has about 1,700 square feet of built-out office space. The clear height is 16 feet, and the building features two drive-in bays.Rodney…
Melanie Tucker
November 6th, 2011 at 07:00am
Hollister Industrial Trades for $1.15M
Rabobank, NA sold the industrial building at 777 Flynn Rd. in Hollister, CA to Franklin Mechanical & Control, Inc. for $1.15 million, or approximately $70 per square foot, in an REO sale.The 16,318-square-foot building was constructed in 2006 on 5.5 acres, and was vacant at the time of sale.Greg Findley and Daniel Vorhies with Cassidy Turley BT Commercial represented the seller. Vorhies also represented the buyer in the sale.Please see…
Greer Pruitt
PJ Property Dev Acquires Santa Clara Industrial
Chris Ptarcinski with PJ Property Dev LLC purchased the 11,285-square-foot industrial building at 3355 Woodward Ave. in Santa Clara, CA for $1,298,000, or about $115 per square foot, from the Trabert JE Family Trust.The single-story facility was built in 1976 and sits on a half-acre lot. It is zoned MH and has about 1,700 square feet of built-out office space. The clear height is 16 feet, and the building features two drive-in bays.Rodney…
Melanie Tucker
November 6th, 2011 at 05:00am
First Community Housing Buys .99 Acres in San Jose
First Community Housing acquired 0.99 acres of development land in San Jose, CA, where it plans to construct a new multifamily building with street-level retail and office space.Bogomilsky Engineering & Construction sold the vacant land for $2.61 million, or about $61 per square foot. The parcel is located at 1030 Leigh Ave. Details about the proposed multifamily building were not disclosed.The seller was represented in-house.Please…
Kate Retzinger
Apt. Specialist Joins Cassidy Turley in North Bay
Scott Gerber joined Cassidy Turley’s Multi-Family Group as senior vice president. Gerber will work out of the firm’s San Rafael, CA, (North Bay) office.The veteran broker has more than two decades of apartment industry experience. His specialty is advising private investors, nonprofit groups and syndications in Marin County. Gerber began his multifamily brokerage career at Marcus & Millichap in Chicago in 1989. He most recently served as president…
Laurie Forbes
November 5th, 2011 at 04:00am
CoStar's People of Note (Oct. 23-29)
This week's People of Note includes the following markets: Chicago, Midwest, New York City, Portland, OR, and Retail.PORTLAND, ORGuardian Selects Lind as SVP of OperationsGuardian Real Estate Services hired Janine Lind as senior vice president of operations. The multifamily housing expert was added to the firm’s executive management team and will manage Guardian’s property management division.Lind has two decades of industry ex
Laurie Forbes
Fine Wine Turned to Vinegar
Premier Pacific Vineyard Management LLC of Napa, CA, is ceasing all operations at its 36 vineyards in California and Oregon by the end of the year and letting go 120 employees.Premier Pacific is a CalPERS (California Public Employees Retirement Systems)-backed venture that was formed in 2002 to develop and then sale the fine wine vineyards. CalPERS, which is in the process of restructuring its real estate investments, has decided to cut its losses…
Mark Heschmeyer
LinkedIn Expands Mountain View HQ with 373K-SF Lease
LinkedIn Corporation (NYSE:LNKD), the company running the professional social networking site LinkedIn.com, signed a lease deal for a total of 373,195 square feet of office space, renewing and expanding its headquarters in Mountain View, CA.LinkedIn extended the existing lease of its current location totaling 144,843 square feet at 2025, 2027, and 2029 Stierlin Court, in the Shoreline Technology Park, for 12 years.In addition, the tenant was…
Arthur Evans
November 4th, 2011 at 04:00am
CoStar's People of Note (Oct. 16-22)
This week's People of Note includes the following markets: Boston, Chicago, New York City, Orange County, San Diego and South Bay.CHICAGO, ORANGE COUNTYLockhart and Gavula Join UGL Services in ChicagoUGL Services recruited industry veterans Jim Lockhart and Gary Gavula to its Chicago team as senior vice presidents. The two are former executives of Grubb & Ellis who worked on office deals throughout the Chicago area.
Laurie Forbes
First Community Housing Buys .99 Acres in San Jose
First Community Housing acquired 0.99 acres of development land in San Jose, CA, where it plans to construct a new multifamily building with street-level retail and office space.Bogomilsky Engineering & Construction sold the vacant land for $2.61 million, or about $61 per square foot. The parcel is located at 1030 Leigh Ave. Details about the proposed multifamily building were not disclosed.The seller was represented in-house.Please…
Kate Retzinger
November 3rd, 2011 at 06:00am
CoStar's People of Note (Oct. 16-22)
This week's People of Note includes the following markets: Boston, Chicago, New York City, Orange County, San Diego and South Bay.CHICAGO, ORANGE COUNTYLockhart and Gavula Join UGL Services in ChicagoUGL Services recruited industry veterans Jim Lockhart and Gary Gavula to its Chicago team as senior vice presidents. The two are former executives of Grubb & Ellis who worked on office deals throughout the Chicago area.
Laurie Forbes
PJ Property Dev Acquires Santa Clara Industrial
Chris Ptarcinski with PJ Property Dev LLC purchased the 11,285-square-foot industrial building at 3355 Woodward Ave. in Santa Clara, CA for $1,298,000, or about $115 per square foot, from the Trabert JE Family Trust.The single-story facility was built in 1976 and sits on a half-acre lot. It is zoned MH and has about 1,700 square feet of built-out office space. The clear height is 16 feet, and the building features two drive-in bays.Rodney…
Melanie Tucker
In The Pipeline: Construction and Development News for Oct. 30 – Nov. 5
In The Pipeline is a column on significant acquisitions of commercial land for sale, and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail.Follow me on Twitter for live news updates.Nation’s Largest…
Randyl Drummer
November 3rd, 2011 at 04:00am
Prometheus Real Estate Group Secures Financing for Mansion Grove Apts
Prometheus Real Estate Group, Inc. secured a $10 million supplemental mortgage for the Mansion Grove Apartments at 502 Mansion Park Dr. in Santa Clara, CA. Financing was based on a 5-year term and a 30-year amortization schedule.Jeffrey Weidell, executive vice president and managing director of NorthMarq Capital's San Francisco Regional office arranged the financing.Built in 1988, the Mansion Grove Apartments feature 1,000 apartment units…
Luis Armendariz
First Community Housing Buys .99 Acres in San Jose
First Community Housing acquired 0.99 acres of development land in San Jose, CA, where it plans to construct a new multifamily building with street-level retail and office space.Bogomilsky Engineering & Construction sold the vacant land for $2.61 million, or about $61 per square foot. The parcel is located at 1030 Leigh Ave. Details about the proposed multifamily building were not disclosed.The seller was represented in-house.Please…
Kate Retzinger
November 2nd, 2011 at 04:00am
Niche Targets Spread the Playing Field in Single-Tenant Arena
As the feeding frenzy developed in single tenant property sales over the past four months and competition for deals heated up, investors invariably began hunting for twists and niches in search of a better deal.In this report, we present the investment strategies shared by several active single-tenant investors, and how they the expect the market to change going forward.Tim Marshall, principal of TM 1031 Exchange Inc. in Santa Monica, CA…
Mark Heschmeyer
First Community Housing Buys .99 Acres in San Jose
First Community Housing acquired 0.99 acres of development land in San Jose, CA, where it plans to construct a new multifamily building with street-level retail and office space.Bogomilsky Engineering & Construction sold the vacant land for $2.61 million, or about $61 per square foot. The parcel is located at 1030 Leigh Ave. Details about the proposed multifamily building were not disclosed.The seller was represented in-house.Please…
Kate Retzinger
November 1st, 2011 at 04:00am
CoStar's People of Note (Oct. 23-29)
This week's People of Note includes the following markets: Chicago, Midwest, New York City, Portland, OR, and Retail.PORTLAND, ORGuardian Selects Lind as SVP of OperationsGuardian Real Estate Services hired Janine Lind as senior vice president of operations. The multifamily housing expert was added to the firm’s executive management team and will manage Guardian’s property management division.Lind has two decades of industry ex
Laurie Forbes
Niche Targets Spread the Playing Field in Single-Tenant Arena
As the feeding frenzy developed in single tenant property sales over the past four months and competition for deals heated up, investors invariably began hunting for twists and niches in search of a better deal.In this report, we present the investment strategies shared by several active single-tenant investors, and how they the expect the market to change going forward.Tim Marshall, principal of TM 1031 Exchange Inc. in Santa Monica, CA…
Mark Heschmeyer
October 31st, 2011 at 04:00am
Ron Labetich Company Joins Cassidy Turley
Ron Labetich Company, a local firm in Los Altos, CA has joined Cassidy Turley, a top U.S. commercial real estate services provider.Ron Labetich, with more than 40 years in the commercial real estate business, will join the Cassidy Turley team as partner, while Scott O'Brien will join as a vice president.Labetich is a well-seasoned veteran professional and has sold and leased more than $300 million in commercial real estate. He is also a…
Dana Gorghis
NorthMarq Arranges $178.1M in Mortgages for 8 Apartments Across SoCal
NorthMarq Capital's Michael Elmore, executive vice president and managing director, and Ory Schwartz, senior vice president and senior director in Los Angeles, together arranged first mortgage financing totaling $178.089 million for eight different apartment communities in Southern California.Financing was arranged through NorthMarq's seller-servicer relationship with Freddie Mac. The lender provided portfolio pricing on a series of one-off…
Justin Sumner
October 30th, 2011 at 06:00am
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