Silicon Valley Weekly News Blast - November 18, 2014

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A WEEKLY NEWS UPDATE :: NOVEMBER 18, 2014


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:: Silicon Valley News

Sand Hill Property Completes Purchase of Entire Vallco Mall for Total of $320MM
In a complicated deal nearly two years in the making, an affiliate of Menlo Park-based developer Sand Hill Property Co. has purchased the long-struggling 1.3-million-square-foot Vallco Shopping Mall in Cupertino with plans to replace it with a mixed-use development. The Sand Hill affiliate, Vallco Property Owner LLC, bought the mall’s interior shopping space and anchors Sears, J.C. Penney and Macy’s for approximately $320 million, according to a source with direct knowledge of the transaction.

Amdur, Nancy: "Sand Hill Property Completes Purchase of Entire Vallco Mall for Total of $320MM". 11.12.14
Sand Hill Property Completes Purchase of Entire Vallco Mall for Total of $320MM (11.12.14)

Lane Partners builds portfolio in South Bay with $87M Mountain View, Sunnyvale pickups
Lane Partners has made another South Bay acquisition, purchasing an eight-building portfolio in Sunnyvale and Mountain View that's roughly half-leased to Apple Inc. The Menlo Park-based investor and its capital partner, Newport Beach-based PIMCO LLC, closed on the assets this week, according to title records.

Donato-Weinstein, Nathan: "Lane Partners builds portfolio in South Bay with $87M Mountain View, Sunnyvale pickups". 11.14.14
Lane Partners builds portfolio in South Bay with $87M Mountain View, Sunnyvale pickups (11.14.14)

Cupertino zones for more housing, office throughout city; Vallco area sees major land-use changes
After a marathon, 10-hour council meeting, Cupertino leaders moved closer to allowing more office space, housing units and hotel rooms throughout the city — including at Vallco Shopping Mall, the long-struggling retail center. Details were still sketchy on Tuesday, hours after the council wrapped up a highly contentious meeting at 5 a.m.

Donato-Weinstein, Nathan: "Cupertino zones for more housing, office throughout city; Vallco area sees major land-use changes". 11.11.14
Cupertino zones for more housing, office throughout city; Vallco area sees major land-use changes (11.11.14)

Legacy starts work on six-story office building in North San Jose
Seven years after acquiring a prime, 16.5-acre parcel fronting Highway 101 in north San Jose, Legacy Partners is off and running on the first building there. The developer joined with Mayor Chuck Reed on Friday morning to throw around a little ceremonial dirt, marking the start of construction for a six-story, 200,000-square-foot office building at 2503 Orchard Parkway.

Donato-Weinstein, Nathan: "Legacy starts work on six-story office building in North San Jose". 11.14.14
Legacy starts work on six-story office building in North San Jose (11.14.14)

SCVTA To Release Four Parcels for Joint Development Projects in Silicon Valley
The Santa Clara Valley Transportation Authority has released details on four parcels it plans to sell or lease to developers as part of its Joint Development Policy, which says it aims to “generate revenue, carry out transit-oriented development and increase ridership on its transit system.”

Carlsen, Robert: "SCVTA To Release Four Parcels for Joint Development Projects in Silicon Valley". 11.12.14
SCVTA To Release Four Parcels for Joint Development Projects in Silicon Valley (11.12.14)

Salesforce Signs Agreement to Purchase 50 Fremont Street Building, Expanding Worldwide Headquarters in San Francisco
Salesforce (NYSE: CRM), the Customer Success Platform and world’s #1 CRM company, today announced an agreement to purchase 50 Fremont Street, a 41-story building located at the intersection of Fremont and Mission Streets in San Francisco’s South of Market (SoMa) district. Salesforce is purchasing the property from financial services organization TIAA-CREF. In addition, the world’s fastest growing top 10 software company and the City’s largest tech employer announced it has already hired more than 1,100 employees in San Francisco in 2014.

TheRegistrySF.com: "Salesforce Signs Agreement to Purchase 50 Fremont Street Building, Expanding Worldwide Headquarters in San Francisco". 11.13.14
Salesforce Signs Agreement to Purchase 50 Fremont Street Building, Expanding Worldwide Headquarters in San Francisco (11.13.14)

Done deal: Google seals lease with NASA for Moffett Airfield
A Google Inc. subsidiary has sealed a deal with NASA to lease Moffett Field — plugging in the largest puzzle piece yet in Google's massive Peninsula real estate expansion and paving the way for the rehabilitation of the storied Hangar One. The deal, first announced in February, became official today, providing a first look at the financial terms.

Donato-Weinstein, Nathan: "Done deal: Google seals lease with NASA for Moffett Airfield". 11.10.14
Done deal: Google seals lease with NASA for Moffett Airfield (11.10.14)

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