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Google Angling to Buy $2B NYC Office Building
If there wasn’t already enough competition chasing core NYC office product, Google is now apparently in the running as well to acquire the 2.9M square feet office building at 111 Eighth Avenue. The...
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Thanks Solyndra
For taking $550M of our money (in the form of loan guarantees) and using it to expand like crazy when the price of your product is probably going to get cut in half in a matter of a year. Just seven...
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Grubb Secures 11% Loan Secured by Accounts Receivable
Been a while since I posted anything, but this was too good to pass up: Grubb & Ellis Company (GBE: 0.00 N/A) announced that it has received an $18 million financing commitment from private equity...
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CoStar Acquiring LoopNet
LoopNet was well on its way to taking over the reigns from CoStar. It had embarked down the path of becoming the “go to” place to list to get things sold or leased. CoStar hadn’t evolved much over the...
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How To Lose $1,200 PSF in Two Years
Buy this beauty for the low, low price of $2,643 psf. Then wait for Apple to go down the street. Guess the current owner doesn’t like to gamble.
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LoopNet Continues to Bolster Feature Set – Will It Continue?
LoopNet was well on its way to supplanting CoStar in relevancy before the offer to acquire LoopNet was made by CoStar. By becoming the “go to” place on the internet to post and sell/lease real estate,...
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The Band is Going to Be Taking a Break
Everybody is expecting to get $6-7 NNN rents in Palo Alto, and 4 and even 5 in Mountain View. But I fear the party will slowly becoming to a halt soon. Investors are once again beginning to drink the...
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Richard LeFrak on CNBC With a Wait and See Attitude
Richard LeFrak of the LeFrak Organization was on CNBC with Maria to discuss commercial real estate. He continues to be somewhat cautious and is taking a “wait and see” approach, though there is...
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Roubini’s Back: “In A Few Days There Might Not Be A Eurozone”
The prolific Roubini is back! At the Milken Global Conference on a panel to discuss the Eurozone, Roubini indicated that “in a few days…there might not be a eurozone for us to discuss.” That certainly...
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What The Market Told Us Today
We were told that a trader put in a “B” (for billion) instead of an “M” (for million). Then we’re told it was tied to the E-Mini futures. Let’s say we’re naive enough to believe the B vs M scenario is...
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Mark to Market: Sunnyvale R&D Trades For $40 PSF
Well there you go, $40 psf on a building, and less than $1M/acre for a Sunnyvale R&D project. We’re back to the lows of 2003 as far as land costs go when Gilbane acquired the 12-acre site of Kifer...
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Kudos to Cornish & Carey
It seems that the folks over at Cornish & Carey have decided to put rental rate and available space information back up on their website. I was admittedly harsh on them back in January when I wrote...
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Wal-Mart Scoping Former Mervyn’s Spaces in Southern California
Wal-Mart is opening up a mini-version of its Supercenters in in-fill markets in Southern California. It has signed a lease to take over a former 75,000SF Mervyn’s. The typical Supercenter is 150K+ SF....
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40 Million Americans Receiving Food Stamps
1 in 8 Americans is now receiving food stamps, a new record. Despite the economy purportedly adding jobs again, it is also adding to the number of people on food stamps. The USDA numbers show that...
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