Posted by: BayAreaComRE | April 9, 2010

Friday Rumor/Truth Mill

Truth: First Solar (NYSE: FSLR, the largest manufacturer of thin film solar modules) is opening a Santa Clara R&D site at 1025 & 1035 Walsh Avenue. The 110,025  square foot facility will undergo major renovations over the next year to accommodate the use. Headquartered in Tempe AZ, First Solar already leases space in Oakland and Sunnyvale and is expanding nationally due to the uptick in demand for solar modules. Congrats to Nathan Zoucha, a Director on one of the writer’s teams, for closing the deal! The full story can be found here. The full story can be found here.

Rumor: As reported by the SF Business Times, and confirmed by several sources, Deloitte & Touche has signed a letter of intent to lease approximately 180,000 square feet at 555 Mission Street, the newest SF high-rise owned by Tishman Speyer. Their lease at 50 Fremont expires in March of 2016, which would be terminated at a price of roughly $12 Million. The full article can be found here.

Truth: Joe Stampone at A Student of the Real Estate Game, via Dr. Sam Chandan, Global Chief Economist and Executive Vice President of Real Capital Analytics, has uncovered some great macro trends in commercial real estate. You can find the article here.

Rumor: This city of SF is owed $102,000 for the Environment Impact Report it worked on in conjunction with the new proposed tower at 555 Washington Street. In an email to the board of supervisors who are overseeing the development of the site, the financial director for the planning department said the following, “Please help! WE ARE IN DESPERATE NEED OF FEE REVENUE SUPPORT especially this high amount!!” and that they should postpone any further hearings regarding the tower until payment is received. Via the City Insider.

Truth: The Wall Street Journal is reporting that the bidders on General Growth Properties are looking for a stalking horse status…(we had to look that up too, click here for definition).

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Responses

  1. Hey guys, thanks for including me in this roundup. Sam Chandan is one of the foremost authorities on the state of the market. he has the ability to make a complex situation look simple.

    Keep up with the great work on the blog. I especially love the guest posts you guys have been doing.

    @JoeStampone1


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