Silicon Valley Weekly News Blast - September 27, 2016

 weSRCH's Best of the Internet Award
  27th-Sep-2016
 608

CB RICHARD ELLIS

IPG Silicon Valley

A WEEKLY NEWS UPDATE :: SEPTEMBER 27, 2016

OR MORE
INFORMATION
PLEASE CONTACT:

:: IPG - SILICON ::
VALLEY

CONTACT

Jef Henderson, J.D., CCIM, MCR, SLCR
Executive Vice President

Lic. 01483399
+1 408 453 7461

jefrey.henderson@cbre.com

:: THIRD ::
QUARTER
2016
NEWSLETTER


Third Quarter
Newsletter 2016

Q3 2016 Silicon Valley Newsletter

:: 2016 ::
SCORING TECH TALENT


Scoring Tech Talent

2016 Scoring Tech Talent

:: 1st Half 2016::
CAP RATE SURVEY


CBRE North America
CAP Rate Survey

CBRE North America Cap Rate Survey_H1 2016

:: QUICK CLICKS ::

> REST ASSURED: US CRE IS STRONG AND WILL CONTINUE ITS UPWARD TRAJECTORY WELL INTO 2017

> BAY AREA'S MOST POWERFUL WOMEN

> Market Street Development Could Be Cut Short by New Report

> Alleged radiation cover-up at Hunters Point prompts EPA investigation

> ANTON MOUNTAIN VIEW MOVES FORWARD WITH APPROVAL FROM CITY COUNCIL

> San Francisco has reached 'peak unaffordability'

> Five Trends Affecting Commercial Real Estate: Looking Ahead to 2017

> European investor bags Tiffany's Building in Union Square for $135 million in rare sale

> Santa Clara chipmaker to be bought by Chinese company in $500M deal

> Buyer closes on $78 million deal for 31 acres in Milpitas

> Alaska Permanent Fund Puts 100 Pine Street in San Francisco Up for Sale

> Lake Merritt Parcel at 2400 Valdez with Approved Mixed-Use Development for 224 Units Sells for $10.7MM

> Blackstone to Buy San Francisco Bay Area Assets as Part of its Massive $1.5B Deal


• REST ASSURED: US CRE IS STRONG AND WILL CONTINUE ITS UPWARD TRAJECTORY WELL INTO 2017


Though America's financial markets faced some tumultuous times this year—particularly stemming from volatility overseas—the economy has weathered the shocks with resilience, according to the latest Cushman & Wakefield US Macro Forecast. The country’s economic position not only remains strong, but continues to support commercial real estate.

Williams, Champaign "REST ASSURED: US CRE IS STRONG AND WILL CONTINUE ITS UPWARD TRAJECTORY WELL INTO 2017" 9.23.16

REST ASSURED: US CRE IS STRONG AND WILL CONTINUE ITS UPWARD TRAJECTORY WELL INTO 2017

• BAY AREA'S MOST POWERFUL WOMEN

Bisnow was thrilled to honor the Bay Area’s 50 most powerful women in commercial real estate along with 300 friends, supporters and sponsors at the Sir Francis Drake Hotel in San Francisco yesterday. The honorees are innovators, problem-solvers and trailblazers who worked hard to create a space within the profession for themselves and many generations of women to come.

Littman, Julie "BAY AREA'S MOST POWERFUL WOMEN" 9.22.16

BAY AREA'S MOST POWERFUL WOMEN



• Market Street Development Could Be Cut Short by New Report

As we first reported earlier this year, the Golden Gate Building is considered a historical resource and contributor to the historic Market Street Theatre and Loft (MSTL) District. And as such, the City determined that the proposed project would require a full EIR in order to move forward. According to the draft report which was just released, the project as proposed would result in “two significant and unavoidable impacts to the MSTL District resulting from: the demolition of a contributing historic resource to the MSTL District, and new construction of a building that would be incompatible with the MSTL District.” And per the report, the environmentally superior alternative “that best avoids or lessens significant effects of the proposed project, even if the alternative would impede, to some degree, the attainment of the project objectives,” is a “No Project” alternative.

"Market Street Development Could Be Cut Short by New Report" 9.22.16

Market Street Development Could Be Cut Short by New Report



• Alleged radiation cover-up at Hunters Point prompts EPA investigation

Developers and planners agree that Hunters Point is the future of residential development in San Francisco. So how radioactive is it? Those with a stake in the decommissioned Naval shipyard don’t want people feeling like they even have to ask that question. So much so that some allege that Tetra Tech, the company presently handling the base’s cleanup, has been fudging the numbers. Now the EPA has put the kibosh on turning most Hunters Point parcels over to developers until they’ve investigated, and the city is making cooperative noises.

Brinklow, Adam "Alleged radiation cover-up at Hunters Point prompts EPA investigation" 9.22.16

Alleged radiation cover-up at Hunters Point prompts EPA investigation


• ANTON MOUNTAIN VIEW MOVES FORWARD WITH APPROVAL FROM CITY COUNCIL

Anton DevCo will start construction on a multifamily development in Mountain View early next year now that the City Council has unanimously approved the project. “Apartment growth in Mountain View and all of Silicon Valley hasn’t kept pace with population and job growth,” says Anton DevCo SVP Andrew Baker. “With job growth that’s among the strongest in the nation, we felt this was an amazing opportunity to develop apartment homes near major employers within the San Antonio Precise Plan.”

Littman, Julie " ANTON MOUNTAIN VIEW MOVES FORWARD WITH APPROVAL FROM CITY COUNCIL " 9.22.16

ANTON MOUNTAIN VIEW MOVES FORWARD WITH APPROVAL FROM CITY COUNCIL


• San Francisco has reached 'peak unaffordability'

San Francisco’s real estate market has reached 'peak unaffordability,' says a housing expert, which will lead sellers and landlords to lower prices on housing and offer tempting perks for rentals as they scramble amidst a glut of supply and record-high prices. San Francisco-based Trulia Chief Economist Ralph McLaughlin made the comments in an interview with Yahoo Finance.

McDermid, Riley "San Francisco has reached 'peak unaffordability’” 9.22.16

San Francisco has reached 'peak unaffordability'


• Five Trends Affecting Commercial Real Estate: Looking Ahead to 2017

The U.S. property market landscape in 2017 will be characterized by continued strong fundamentals, increased investor flows and high transaction volume. As for the economic landscape, the U.S. continues to grow moderately and add jobs. The U.S. employment gains continue to be strong, with unemployment dropping below 5.0 percent earlier this year, and adding to demand for housing in a variety of forms, for office space, for the retail sector and for industrial/distribution facilities. While many fear the end of the current economic cycle, the fact that the recovery was so protracted leads me to believe that we may have another two years left in the current growth cycle.

Lynn, David "Five Trends Affecting Commercial Real Estate: Looking Ahead to 2017” 9.26.16

Five Trends Affecting Commercial Real Estate: Looking Ahead to 2017


• European investor bags Tiffany's Building in Union Square for $135 million in rare sale

A European investor snapped up 360 Post St. in San Francisco, a trophy Union Square building that houses Tiffany’s and the U.S. headquarters of Cathay Pacific Airways. The sellers in the deal were Greenstone Realty Advisors LLC and 360 Post LP. The buyer and price were not disclosed, but a source familiar with the property said it was about $135 million or $1,400 per square foot.

Torres, Blanca "European investor bags Tiffany's Building in Union Square for $135 million in rare sale” 9.23.16

European investor bags Tiffany's Building in Union Square for $135 million in rare sale


• Santa Clara chipmaker to be bought by Chinese company in $500M deal

Analogix Semiconductor, which sells chips for high-resolution display to the likes of Apple, Samsung, LG, Microsoft and Google, has agreed to be acquired for $500 million by Shanhai Capital. China Integrated Circuit Industry Investment Fund joined Shanhai Capital’s fund as a limited partner in the deal. The transaction, which subject to regulatory approvals, is expected to close later this year.

Hall, Gina "Santa Clara chipmaker to be bought by Chinese company in $500M deal” 9.23.16

Santa Clara chipmaker to be bought by Chinese company in $500M deal


• Buyer closes on $78 million deal for 31 acres in Milpitas

There's real estate action in Milpitas, but it's not around the future site of its BART station.
Connecticut-based Westport Capital Partners closed on a purchase of 31 acres for $78 million in an industrial park area in southwest Milpitas on Sept. 15, according to county records. There are seven buildings on the four non-adjacent parcels, whose tenants include a lab services company, multiple solar companies and an electronics manufacturer.

Druzin, Bryce "Buyer closes on $78 million deal for 31 acres in Milpitas” 9.23.16

Buyer closes on $78 million deal for 31 acres in Milpitas


• Alaska Permanent Fund Puts 100 Pine Street in San Francisco Up for Sale

The Alaska Permanent Fund Corporation has put the 402,534 square foot 100 Pine Street office building on the market for sale. The potential price point could be someone in the range of $750 to $800 per square foot, according to sources aware of the property, which could bring the sale figure in the range of $300 million to $322 million.
The pension fund declined to comment other than confirm that the property is up for sale and would not give a current value of the property when contacted for this story. This investor owns the asset through a separate account with Chicago-based LaSalle Investment Management. This ownership had acquired the property for $149 million or more than $370 per square foot in 2005.

Peterson, Jon "Alaska Permanent Fund Puts 100 Pine Street in San Francisco Up for Sale” 9.26.16

Alaska Permanent Fund Puts 100 Pine Street in San Francisco Up for Sale


• Lake Merritt Parcel at 2400 Valdez with Approved Mixed-Use Development for 224 Units Sells for $10.7MM

A 1.1-acre parcel approved for 224 apartments and 23,465 square feet of ground floor retail at 2400 Valdez Street in the Valdez Triangle District of Oakland is in contract to close for $10.7 million. The buyer is Houston-based Hanover Co., which bought it from the Masri & Smith families.
The project received approval from the Oakland City Council on April 20, 2016 amid environmental protests in a 6-0-1 approval vote. At the time, both Hanover, then in the role of the developer, and the Masri & Smith families presented a vision for the development that Oakland officials found to be exceptional.

COMMERCIAL "Lake Merritt Parcel at 2400 Valdez with Approved Mixed-Use Development for 224 Units Sells for $10.7MM” 9.26.16

Lake Merritt Parcel at 2400 Valdez with Approved Mixed-Use Development for 224 Units Sells for $10.7MM


• Blackstone to Buy San Francisco Bay Area Assets as Part of its Massive $1.5B Deal

New York City-based Blackstone Real Estate Partners will be adding to its exposure in the San Francisco Bay Area once it closes on the acquisition of a $1.5 billion deal with Los Angeles-based LBA Realty, according to sources with direct knowledge of the transaction. Blackstone declined to comment when contacted for the story. LBA also did not respond to phone calls and e-mails seeking comment for this article.

Peterson, Jon "Blackstone to Buy San Francisco Bay Area Assets as Part of its Massive $1.5B Deal” 9.23.16

Blackstone to Buy San Francisco Bay Area Assets as Part of its Massive $1.5B Deal


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