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Sunday, 04 June 2000

West Regional Digest (6/5/00): KLA/Tencor buys land for new campus

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June 5, 2000

Industry news: German investors pop up again in S.F
The San Francisco Business Times, June 5

SAN FRANCISCO – Atlanta-based TMW Real Estate Group LLC, an investment adviser to mostly German institutional funds, has bought 100 First St. for about $135 million, or about $300 per square foot. Included in the deal for the 451,000-sf office building at the corner of First and Mission streets was a 200-stall parking structure. Delta Dental insurance company occupies half of the building and will remain a tenant on a 15-year lease. The building's other major tenant is Young & Rubicam.

Industry news: KLA/Tencor buys land for new campus
The Business Journal of San Jose, June 5

SAN JOSE, Calif. – KLA/Tencor Corp. has agreed to buy 43 acres in Shea Business Park in Livermore to build a new campus. The San Jose semiconductor equipment manufacturer plans to start construction this summer on two 120,000-sf buildings for customer service and manufacturing. The first structure is slated for completion by the end of June 2001.

Warehouses fuel hot Oakland market
East Bay Business Times, June 5

SAN FRANCISCO – Real estate investors scoffed when Francis Rush purchased a warehouse in West Oakland in December 1998 for $1.5 million and then spent another $1.5 million converting the 62,850-sf building to rental lofts. But now prices for industrial warehouses in Oakland have jumped from a range of $15 to $35 per sf six months ago to today's price range of $20 to $60 per sf. At least 750,000 sf of space is under negotiations or set to close shortly, according to Cushman & Wakefield Inc.'s Oakland office.

City to sublease part of former Marine base
The Los Angeles Times, June 5

LOS ANGELES – The U.S. Navy has approved the city's sublease of 250 acres on the former Marine Corps Air Station to a handful of public agencies. The city, which has been working toward acquiring the 1,585-acre property since helicopters were removed from the base in 1997, will be able to lease the parcel by June 12. The city council will have to vote in the next stage of the deal. Private development of the remaining acreage would include 9.2 million sf of commercial and industrial space, 4,600 homes, and a public golf course.

Grand Ronde Tribe sinking dollars into Pearl loft project
The Business Journal of Portland, June 5

PORTLAND, Ore. – The Grand Ronde Tribe has teamed with local developer John Carroll for a $37 million mixed-use loft project between Northwest Glisan and Flanders streets on 10th Avenue in the Pearl District. The Gregory, which is slated for completion in April 2001, will feature multifamily rental units, office space and street-front retail space.

Bellevue's changing skyline
Eastside Business Journal (Seattle), June 5

BELLEVUE, Wash. – Seven developers want to bring nine new projects totaling more than 3.62 million sf of mid-rise and high-rise office space to the downtown core. They are rushing to get their projects under way while demand is still strong.

Industry news: Seattle's targeted genetics eyeing Canyon Park East
Eastside Business Journal (Seattle), June 5

SEATTLE – Targeted Genetics Corp. is reportedly looking to lease the University of Washington Bothell branch's offices and labs in CarrAmerica Realty Corp.'s Canyon Park East. The company plans to sublease half of that back to another tenant until it can grow into the entire 78,000-sf building. The UW branch plans to move into a new building in August.

Industry news: Unico to buy tower
The Business Journal of Portland, June 5

PORTLAND, Ore. – Unico Properties has contracted to buy U.S. Bank's headquarters here, though the bank will still occupy about 40 percent of the tower.

Industry news: Seattle office rents to rise 6-plus percent
The Puget Sound Business Journal (Seattle), June 5

SEATTLE – Commercial rents in Seattle will likely rise 6 percent to 8 percent over last year's rates, according to the "Tenants Guide to North American Markets 2000," a publication of Dallas-based Corporate Real Estate Service Advisors. Class-A office rental rates in the city's downtown ranged from $29 to $45 per sf last year, well above the 1997 rate of $22 to $36 per sf.

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Additional Info

  • Syndicate to Realpoint: No
  • Subject: West Regional Digest (WDIG)
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Data Digest







Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44




cppichart FP



CMBS 2.0 Spreads


Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41





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