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April 10, 2014 By Saich Way Station

South Bay Cities Heating Up

campbellThe Carlyle Group is buying Lincoln Court, one of the few higher-end office complexes in Campbell, in a deal rumored to be roughly $41 million, or $335 per square foot. Principal Global Investors is the seller.

Campbell is a market with limited inventory, and brokers say the West Valley city is poised to pick up as tenants get pushed out of nearby markets such as Los Gatos, where Netflix has continued to gobble up space. In a sign of bullishness on the market, Carlyle is raising asking rents at the 124,000 square foot, courtyard-style building located at 2105 S. Bascom Ave. to $3.75 per foot, full service.

Read the full story in the Silicon Valley Business Journal.

Filed Under: Blog

March 3, 2014 By Saich Way Station

Are You Ready for Some Silicon Valley Football?

footballFew things conjure images of extreme excitement and fan devotion as football, and especially the Super Bowl. For cities that play home to National Football League franchises, they are gifts that keep on giving and giving. It is precisely the reason why Silicon Valley’s Fifteenth Annual Trends 2014 Real Estate Forecast, hosted by Colliers International on Wednesday in San Jose, made the new San Francisco 49ers Levi’s stadium in Santa Clara—home to the league’s fiftieth annual Big Game in 2016—the centerpiece of its commercial real estate panel.

Jonathan Harvey, the Turner-Devcon project director of the 21-acre Levi’s stadium site, says the field will be ready for play on August 2, just 5 months away, when the San Jose Earthquakes will host their first soccer match there. The field itself is well underway and nearly ready to sod. The US Golf Association sand-based natural turf has been growing for the last year in Livingston, Calif., and the sod will be brought to the job site shortly. Since the project broke ground in late April 2012, the Devcon-Turner team has been busy preparing the 68,991 seat LEED Gold-certified stadium for its fall 2014 debut.

Read the rest of the story at The Registry, here.

Filed Under: Blog

February 27, 2014 By Saich Way Station

Rehab of Hangar One and Use of Moffett Federal Airfield

h1GSA, NASA Competitively Select Planetary Ventures, LLC to Begin Lease Negotiations for Rehabilitation of Hangar One and Use of Moffett Federal Airfield

The U.S. General Services Administration (GSA) and NASA have selected Planetary Ventures, LLC as the preferred lessee on a lease to rehabilitate historic Hangar One and to manage Moffett Federal Airfield, currently managed by NASA’s Ames Research Center in Moffett Field, Calif. The lease will put Hangar One to new use and eliminate NASA’s management costs of the airfield.Hangar One NASA

GSA’s Request for Proposals (RFP), issued on behalf of NASA in May 2013, kicked off a competitive process in which the private sector was provided an opportunity to collaborate with the government in rehabilitation and adaptive reuse of NASA’s historic Hangar One and management of the airfield through a long-term lease agreement.

Read the rest of the story in The Registry, here.

Filed Under: Blog

February 3, 2014 By Saich Way Station

Tech Jobs Incredibly Positive for 2014

SFmapThe San Francisco-Silicon Valley region experienced a sizzling 2013 in real-estate development and job growth that were fueled by a young technology crowd. More of the same is forecast for 2014 although the pace will not be quite as dizzying.

Read the source article at The Registry, here.

Bay Area real estate The RegistrySan Francisco and Silicon Valley will also increasingly become symbiotic as tech companies from the Peninsula to the South Bay continue to beef up their office presence in the big city in an effort to attract highly skilled employees who are seeking the urban lifestyle.

Tempering the enthusiasm somewhat are factors that include rising interest rates and a shaky confidence from small companies concerned with the high cost of doing business in California.

Still, “the trend from an office standpoint in this very special geography that we sit in is incredibly positive,” said Carl Shannon, senior managing director for New York-based developer Tishman Speyer. “We’re blessed in San Francisco to have an economy which has overcome the shrinking that is going on in corporate America.”

 

 

Filed Under: Blog

January 15, 2014 By Saich Way Station

60 South Market Building Sold in San Jose

60Harvest Properties, a full service commercial real estate investment and development firm based in Emeryville, today announced it has purchased 60 South Market Street in San Jose, California.

Harvest Properties acquired the property from Ares Management with partner LaSalle Investment Management for an undisclosed sum. The transaction is the debut acquisition for Harvest and LaSalle as partners as well as the first investment for both in downtown San Jose.
Investment brokers involved in the transaction include Jeffrey Weber, Greg Coith, and Edmund Najera of Eastdil Secured. 60 South Market is a 232,536 square foot, 14-story Class “A” office tower centrally located in Silicon Valley’s downtown San Jose. Prominently positioned on the east side of Market Street, the property represents one of the finest downtown office towers with recently renovated common areas and on-site amenities that include a fitness center, conference room and outdoor balconies. With easy access to Highway 87 and Interstate 280, the p roperty provides direct access to key commute corridors and is within walking distance to Caltrain, the VTA light rail, and a myriad of amenities including San Pedro Market.

Read the full story at The Registry here.

Filed Under: Blog

January 8, 2014 By Saich Way Station

Buildings Get Smarter and So Do Workplaces

wallsIn an era of rapid technological progress, is there a reason that an office complex or classroom building—both housing lots of smart people—can’t elevate its own IQ?

In a smart building, software allows communications among traditionally separate systems running everything from lighting, heating and ventilation to security and telecommunications. The systems’ convergence creates a single intelligent network that allows a building to react dynamically to real-time conditions using input from every source attainable. Moreover, smart buildings are the backbone of smart work environments, something that tenants increasingly want.

“They are engineering smart buildings with automation, which facilitates the creation of smart work environments.” Bob Brown, chief executive and co-founder, Fremont-based Teladata LLC
Energy is typically the largest expense for any U.S. building owner or user, accounting for 30 percent of operating costs in an average commercial building, according to the U.S. Environmental Protection Agency. Overall, commercial and industrial buildings use $200 billion a year nationwide on power, producing nearly half of the nation’s greenhouse-gas emissions. Smart buildings are being credited with reducing energy use from 20 percent to 30 percent as compared to conventionally built and operated structures.

Read the rest of the story at The Registry – here.

 

Filed Under: Blog

January 2, 2014 By Saich Way Station

Walkability of South Bay Cities

When Rockwood Capital and Four Corners Properties bought the Water Tower Plaza office and retail building in downtown Campbell, the “walkability” of the neighborhood was cited in the decision to buy. According to Seattle-based Web site and research company Walk Score, downtown Campbell is a “walker’s paradise.” Its 94-point score on a 100-point scale makes it one of the most walkable neighborhoods in Silicon Valley.

We in the Bay Area hear a lot about the virtue of urban living, including benefits for the air, natural environment and public health. The region’s preoccupation has been evident for years. First communities created “greenlines” beyond which development was no longer allowed (San Jose’s was established in 1996), then turned to high-density, infill development—preferably close to transit—to house more people and to get them out of their cars.
If walkability is taken as a proxy for urban, Walk Score provides another metric by which to measure our progress toward a “better” (or at least more compact) place to live. San Francisco ranks as the second most-walkable city in the country with an overall walk score of 84.9. (No. 1 New York’s score is 85.3.) Berkeley has a community-wide score of 82; Emeryville an 80. They are the only cities in the Bay Area with overall walkability scores above 70.

Read the rest of the story at The Registery – here.

 

Filed Under: Blog

December 13, 2013 By Saich Way Station

Sale of Pacific Commons Shopping Center in Fremont

SAN FRANCISCO, CA – December 11, 2013 – HFF announced today the sale of Pacific Commons Shopping Center, an 865,783-square-foot regional power center in Fremont, California.

Noted as one of the largest power centers in Northern California, HFF marketed the property on behalf of the seller, an affiliate of Catellus Development Corporation, a TPG Real Estate investment. Heitman purchased the asset which was subject to an existing loan.

Pacific Commons Shopping Center is located at the southwest corner of Interstate 880 and Auto Mall Parkway. Completed in phases between 2004 and 2006, the center is part of a larger approximately 1.2 million-square-foot retail development situated within an 840-acre mixed-use master planned community that also includes 1.1 million square feet of office/R&D and light industrial space, an 11-dealership auto mall, 440-acre wetland preserve and a 153-acre land parcel with entitlements for 3.4 million square feet of additional office, R&D and retail. Situated on 79.2 acres, Pacific Commons Shopping Center is approximately 97 percent leased and is anchored by tenants such as Lowe’s, Costco, Nordstrom Rack, TJ Maxx, HomeGoods, Staples, Kohl’s, DSW, Target (NAP) and Cinemark Century Theaters (NAP).

Read the rest of the story on The Register – here.

Filed Under: Blog

December 2, 2013 By Saich Way Station

Golden Triangle Shines in North San Jose

By Robert Carlsen of The Registry

mapSJThe term “Golden Triangle” harks back to a mysterious and perilous Southeast Asian geography that defies time. It’s also a place that defies law being one of two primary locations in Asia where illicit drugs are produced.

There is a slice of Silicon Valley flanked by Highways 101, 237 and 880, and incorporating parts of Santa Clara, North San Jose, Sunnyvale and Milpitas that bears the same name. The golden moniker is an appropriate descriptor given the level of commercial, residential, retail, entertainment and hospitality real estate projects under way in this small region.

Major tech players such as Google, Cisco, Samsung and others are spreading out in rapid succession here. And they are just the tip of the proverbial iceberg.

According to San Jose Mayor Chuck Reed, the city put together a task force 20 years ago to study economic development opportunities in the fledgling Triangle, which was showing great promise in attracting burgeoning technology companies.

Read the rest of the article on The Registry here.

Filed Under: Blog

October 21, 2013 By Saich Way Station

Berryessa Crossing Construction Update, October 2013

Berryessa Crossing

Berryessa Crossing Construction taking place next to The Flea Market

KB Home is well underway with the construction of 242 for-sale residential homes located on the north side of The Flea Market, bordering Berryessa Road in San Jose. The foundations for the model homes are being formed, and the finished models will open in December 2013.

Borelli Investment Company represented The Flea Market in the sale of 9.5 net acres of excess land in February 2013. Borelli Investment Company is also the project manager on the development of the 120 acre site.

As part of Phase I, Berryessa Road is being renovated in include sidewalks and infrastructure in order to provide a pedestrian-friendly entrance to the future Berryessa BART station. Sierra Road will be opened to Berryessa Road. A walking trail along Coyote Creek will be constructed, and land will be dedicated to the City for a future park to be built next to the entrance of the creek trail.

All inquiries for this project should be directed to Chris Anderson or Ralph Borelli at Borelli Investment Company – 408-453-4700.

Filed Under: Blog

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