#commercial-real-estate

#commercial-real-estate

An office building in Pleasanton was bought in a deal that cut the property's value nearly in half, records show. Real estate firms Cannae Partners and Realm teamed up to pay $8.5 million to buy the building at 4696 and 4698 Willow Rd., documents filed on Sept. 30 with the Alameda County Recorder's Office show. Deerfield Realty was the seller and provided the buying group with $4.25 million in financing at the time of the purchase, county records show.

At first, Greg and Colin Cleghorn's approach involved acquiring distressed properties (usually at auction), renovating them, and leasing to tenants, followed by refinancing for further acquisitions, but once the brothers from Syracuse, NY, saw a need in the commercial space, they decided to pivot. Their success stemmed from a strategic shift to the commercial market driven by the rise in e-commerce.

It's apparently come time for San Francisco's Mid-Market to be rebranded, 15 years after the neighborhood was primed for a big tech comeback that never really came, and a year after its defining tenant, Twitter, flew the coop. You may have seen the news last week that the building we once called The Twitter Building, now Market Square (1355 Market Street), has a new tenant who has snapped up a small portion of Twitter's very large former footprint,

The desolate and distressed San Francisco Centre, once a Westfield mall before its owners handed back the keys, stands in stark contrast to Unibail-Rodamco-Westfield's outdoor shopping center in Century City. The San Francisco mall, owned by Unibail-Rodamco-Westfield and Brookfield Properties until the two entities stopped making payments on a $558 million note and then bailed, is now worth less than $200 million.

The startup Motive, which makes software for managing vehicle fleets and recently closed a $150 million funding round, has taken a 40,000-square-foot sublease in the building, X's broker Mike Sample told SFGATE on Thursday. He confirmed that more than 700,000 square feet of space in X's old offices are still up for grabs. X and Motive's deal was first reported by the San Francisco Business Times, whose sources said that the startup would move in in phases, beginning with 25,000 square feet.

Motive, a startup founded in 2013 that has been subleasing space from Yelp in SoMa, has inked a deal to sublease 40,000 square feet of the former Twitter HQ at 1355 Market, as the SF Business Times reports. The company will be moving in in phases, beginning with 25,000 square feet. This still represents less than 10% of the former 460,000-square-foot Twitter offices, which occupied just over half of the total square footage of the former wholesale furniture showroom complex and included part of an adjacent building, One 10th Street, that is connected via skyway to the rear of 1355 Market.

In a sign of ongoing weakness within the Bay Area hotel market, a San Jose hotel has been bought by a local real estate investment group for far less than the property's prior value. Sonesta Select San Jose Airport was purchased for $14 million, according to documents filed on Aug. 29 with the Santa Clara County Recorder's Office. A San Mateo-based group headed up by Jayesh Keshav, Leena Keshav, Neeraj Keshav, Jai Jalaram, and Krishna Keshav Patel bought the hotel through an affiliate,

On October 12, A&E, the cable channel behind "Hoarders" and "Duck Dynasty," will air "The Real Estate Commission," a show about Drowlette's travails and triumphs as a commercial real estate dealmaker. The 8-episode series arrives as the idea of side hustles and DIY investments continues to captivate droves of Americans with aspirations for financial freedom. Drowlette promises that audiences won't be disappointed as he attempts to offer a glimpse into a multitrillion-dollar industry normally dominated by billionaire developers and corporate investment giants.

Then came our scoop that a deal for 811 Wilshire also fell out, leaving Jamison in default and facing foreclosure on the 337,000-square-foot property. There's no telling what next week will bring you'll just have to stay tuned to TRD, as usual but it does appear that local Jamison is in better shape than global Brookfield as far as the two downtown L.A. property values go.

SAN JOSE Bernal Plaza, a San Jose shopping center featuring stores such as Staples and Ross, has been bought by a Southern California investor in what experts say signals robust interest in South Bay retail sites. Bison Partners paid $38.3 million for the retail hub, according to documents filed on Sept. 5 with the Santa Clara County Recorder's Office. The Lucky Stores supermarket site, owned by Lucky, wasn't part of the property purchase.

No leader builds success alone. While the spotlight may fall on the CEO, the truth is every strong leader is surrounded by a team of experts behind the scenes. They don't sit at your boardroom table or carry a company badge, but they are essential to your growth, stability and success. These are your outside advisors. The people you can call, confide in and collaborate with to help you lead with clarity and confidence.

Crowdstrike, a Texas-based cybersecurity company, has agreed to lease roughly 150,000 square feet of space in downtown Sunnyvale, according to several sources with knowledge of the transaction. The sources were not authorized to speak about the deal publicly. This transaction represents a fresh, big win for downtown Sunnyvale and Cityline, a mixed-use neighborhood that has produced housing, shops, restaurants, workspaces and now jobs in the city's urban core.

Michael's legal career started at Cadwalader, Wickersham & Taft, the oldest law firm in the U.S. He joined their real estate finance group after graduating from Boston College Law School in 2002. The timing was important-he entered the industry just before the real estate boom of the mid-2000s. "Cadwalader was fast-paced and full of very smart people. I had to learn quickly how to manage complex deals," he recalls.

We were spread out across different buildings. Now it's all under one house, which is so nice,

MILPITAS - The 229-room Sheraton San Jose Hotel was bought for $20.1 million, according to documents filed on Aug. 22 at the Santa Clara County Recorder's Office, well below the property's assessed value. The purchase price for the hotel at 1801 Barber Lane, near the interchange of Interstate 880 and Montague Expressway, was 47% below its assessed value of $38.1 million as of January, according to county real estate documents.

The Campus at Scott, an office and tech complex in Santa Clara big enough to accommodate 1,800 to 2,300 workers, has been bought by an alliance of Bay Area real estate firm Ellis Partners and Boston-based hedge fund Baupost Group. We are thrilled to add these high-quality buildings to our growing portfolio of Silicon Valley office and research and development assets, said Kevin Bocci, an Ellis Partners senior vice president.

While I can't speak to the accuracy of these allegations, they are serious and credible. And they demand an answer,

YES: Recent actions by Irvine Company indicate that it has concluded that its resources are better deployed in locations outside of downtown. It continues to invest in other areas such as University City. The high downtown office vacancy rate, the sales price for the property on Broadway the Irvine Company just sold and the struggling Campus at Horton project are all good reasons to have a pessimistic view of downtown commercial real estate.

For 1,200 square feet on the ground level with a Wu-Tang Killa Beez-yellow HVAC barrel running through it, plus 900 square feet in the basement, I offered $186,000 per annum, or $15,500 per month, with 3 percent escalations per year and an initial lease term of 12 years and 8 months. Because the build-out and renovation was going to take time, I also requested eight months of free rent.

Archer Aviation has leased a 105,000-square-foot building at 10 West Tasman Dr., previously troubled with a loan failure, for its expansion efforts.

"A deal between the parties would create an Irish property behemoth, with industry sources saying that Sherry Fitzgerald is eager to expand its offering in the commercial sector."

HSBC has signed a 15-year lease for 210,000 sq ft in Canary Wharf after a desk shortage prompted reassessment of its London strategic operations.

Applied Materials has invested over $421 million in Sunnyvale properties, supporting plans for a new tech complex expected to bring 2,000 engineering jobs to Silicon Valley.

"Akerman failed to advise [plaintiff] Turner of the most basic and appropriate remedies available to landlords under Florida law in the event of a breach by a tenant."

The streets aren't paved with gold, but they're clean, edged in plantings and dotted with retailers. New commercial developments lure office tenants by offering the perks of downtown without the strife and grime.

Farsight AI has secured $16M in Series A funding to enhance workflow automation solutions specifically tailored for the financial services sector, showcasing significant investor confidence.

This fully renovated mixed-use commercial property offers updated features, practical layouts, and solid investment potential in one of Staten Island's most active corridors.

The recent acquisition of the former 23andMe headquarters illustrates the dramatic downfall of commercial property values in Silicon Valley post-pandemic.