TD Thornton Group

Archstone acquires 192-unit Sunnyvale complex

TD Thornton Group — Thu, 23 Feb 2012 00:28:19 +0000

An Archstone-sponsored partnership has acquired a 192-unit apartment community in Sunnyvale called Parkside Apartment Homes. The complex is expected to be renamed Archstone Sunnyvale.

The acquisition price was $63.2 million. The deal, announced Wednesday, was brokered by. . .

via Silicon Valley / San Jose Business Journal.

Grubb & Ellis seeks fast bankruptcy sale to BGC

TD Thornton Group — Wed, 22 Feb 2012 16:57:06 +0000

Commercial real estate firm Grubb & Ellis is seeking a quick sale to BGC Partners Inc. after filing for bankruptcy protections on Monday.

The Santa Ana-based firm said it is up against a March 1 deadline on $30 million in debt, and it doesn’t have enough cash to get through the current quarter. BGC, which bought Newmark Knight Frank in October, has made a $30 million credit bid for Grubb & Ellis, plus $4.8 million in bankruptcy financing.

“We agreed to acquire Grubb & Ellis because . . .

via Silicon Valley / San Jose Business Journal.

Business leases bring Sunnyvale townhome push

TD Thornton Group — Fri, 17 Feb 2012 18:02:48 +0000

A pocket of Sunnyvale will soon be home to three new townhome developments as builders clamor to meet demand for housing in the city.

Since early 2011, major tech companies such as Google Inc. , Microsoft Corp. , Hewlett-Packard Co . and Apple Inc. have signed leases totaling millions of square feet in the city. With those leases comes an influx of workers that will need a place to live.

O’Brien Homes, Taylor Morrison and Pulte Homes are all working on projects that will bring a combined 521 new townhomes within….

via Silicon Valley / San Jose Business Journal.

Out-of-state homebuilders flock to Sunnyvale

TD Thornton Group — Fri, 17 Feb 2012 17:53:50 +0000

Scottsdale, Ariz.-based Taylor Morrison and Bloomfield Hills, Mich.-based Pulte Homes are gearing up to kick off their own townhome projects near the Fusion housing development off North Fair Oaks Avenue.

Taylor Morrison has begun land development on its townhome community, dubbed 37 Degrees North, at 1044 E. Duane Ave. Pulte Homes is in escrow to buy a 8.5-acre site at 955 Stewart Drive from Equity Office Properties for an undisclosed amount.

Taylor Morrison is planning to construct 132 three and-four bedroom townhomes ranging in size from 1,700 to mid-2,100 square feet.

The units will likely be priced from the mid-to-upper…

via Silicon Valley / San Jose Business Journal.

Housing developers plan for Sunnyvale worker influx

TD Thornton Group — Fri, 17 Feb 2012 17:03:41 +0000

About 5 million square feet of office and R&D space was snatched up in new leases in Sunnyvale over the past year. Tech companies such as Apple, Microsoft, TeleNav, Riverbed Technology and Hewlett-Packard signed large leases — leading to an influx of new workers to the city.

To meet increased demand, developers are clamoring to build housing for the flood of new workers coming to the city . . .

via Silicon Valley / San Jose Business Journal.

Boston Properties pays $71.5M for Mtn. View property

TD Thornton Group — Fri, 17 Feb 2012 00:32:44 +0000

Tishman Speyer Properties has sold a 25-year-old office building in Mountain View to Boston Properties Inc. for $71.5 million in cash.

New York-based Tishman paid $55 million for the 140,000-square-foot building on 2440 W. El Camino Real in 2007. The Sobrato Organization developed the seven-story structure in 1987.

It was 100 percent leased at the time of sale to tenants that include the Silicon Valley Community Foundation, Intellectual Ventures Management and law firm Dechert LLP, according to . . .

via Silicon Valley / San Jose Business Journal.

49ers stadium gets final OK, opening slated for 2014

TD Thornton Group — Thu, 16 Feb 2012 00:11:46 +0000

The Santa Clara City Council Tuesday night gave their final approval on contracts that clear the way for construction to begin on the San Francisco 49ers $1 billion stadium that is expected to open in 2014.

The council voted for three resolutions on the 68,500-seat arena to be built next to the Great America theme park.

Building is now expected to begin in July, about six months ahead of the original plan.

Over Super Bowl week earlier this month, National Football League owners approved a $200 million loan to help cover construction costs.

Among the stadium contracts approved were: . . . .

via Silicon Valley / San Jose Business Journal.

San Francisco Bay Area Fourth Quarter 2011 Apartment Market Report

TD Thornton Group — Wed, 15 Feb 2012 17:07:14 +0000

Check out this San Francisco Bay Area Fourth Quarter 2011 Apartment Market Report via Cassidy Turley.

Keep in mind that 12% rent growth for Santa Clara County is an average over the whole county. We have seen stronger rent growth in parts of Upper Silicon Valley.

Palo Alto hopes to lure industry to Mountain View border

TD Thornton Group — Tue, 14 Feb 2012 23:41:55 +0000

After seeing a surge of housing in several south Palo Alto neighborhoods over the past decades, city officials are now poised to transform these areas near the Mountain View border into enclaves of industry and innovation.

Palo Alto’s focus is on areas just west of U.S. Highway 101, including the neighborhoods around East Meadow Circle and Fabian Way, a quilt of small parcels along San Antonio Road and the area around San Antonio and Charleston roads, near the Taube Koret Campus for Jewish Life. These traditionally industrial and mixed-use neighborhoods have seen an influx of housing over…

via Mountain View Online

Silicon Valley South of Sunnyvale Still Waiting for Recovery

TD Thornton Group — Mon, 13 Feb 2012 16:46:51 +0000

Is southern Silicon Valley being permanently displaced in the technology constellation of star locations? The debate is on.

The rent differential between Silicon Valley’s hottest markets and its coldest is the steepest in his experience, John Michael Sobrato of The Sobrato Organization told a South Bay industry gathering Feb. 9.

There has always been a drop in rents from Palo Alto to the south. Now, however, “that slope is getting steeper,” he said. “I have never seen such a differentiation between submarkets. There is a huge preference to be on the Peninsula.”

The chief executive of……

via TheRegistrySF.com.