SAN FRANCISCO, CA – December 11, 2013 – HFF announced today the sale of Pacific Commons Shopping Center, an 865,783-square-foot regional power center in Fremont, California.

Noted as one of the largest power centers in Northern California, HFF marketed the property on behalf of the seller, an affiliate of Catellus Development Corporation, a TPG Real Estate investment. Heitman purchased the asset which was subject to an existing loan.

Pacific Commons Shopping Center is located at the southwest corner of Interstate 880 and Auto Mall Parkway. Completed in phases between 2004 and 2006, the center is part of a larger approximately 1.2 million-square-foot retail development situated within an 840-acre mixed-use master planned community that also includes 1.1 million square feet of office/R&D and light industrial space, an 11-dealership auto mall, 440-acre wetland preserve and a 153-acre land parcel with entitlements for 3.4 million square feet of additional office, R&D and retail. Situated on 79.2 acres, Pacific Commons Shopping Center is approximately 97 percent leased and is anchored by tenants such as Lowe’s, Costco, Nordstrom Rack, TJ Maxx, HomeGoods, Staples, Kohl’s, DSW, Target (NAP) and Cinemark Century Theaters (NAP).

Read the rest of the story on The Register – here.

Google agreed to rent a former shopping mall in Mountain View, in the largest Silicon Valley lease deal of the year, according to the property’s owners.

The former mall is being renovated into an office complex, with completion scheduled for next year, real estate investment firm Rockwood Capital LLC said today in a statement. Once the renovation is completed, the campus will have more than 500,000 square feet of office space on 27.6 acres.

Read the full story at the Silicon Valley Business Journal site.

World citizen Uday Dandavate is one chief executive whose company won’t occupy a campus and who would never advise anyone else to build one.

Trained in industrial design at the Ohio State University with a focus on learning methods and tools from psychology, anthropology and communications theory, Dandavate advises corporate America. His clients include Samsung, Microsoft, Motorola, Intel, Honda, Hewlett-Packard, Johnson Controls, Kodak and Pepsi.
SonicRim, his company, helps companies see how workers and customers experience their culture and products. “Whenever our customers want to add something new for their customers or make a workplace experience innovation, they come to us to understand the experience of the target audience, so they can improve the idea,” he said.

Read the rest of the story at The Registry.

As much effort as has been expended to explain the San Francisco workplace revolution, Silicon Valley workspace is in a jumble, too.

Five of the valley’s most important companies have announced large, expensive new campuses. On their face, the decisions—by Apple, Google, Facebook, Nvidia and Samsung—make two statements: Companies don’t expect to abandon Silicon Valley, but the existing workstock does not meet corporate needs.

Silicon Valley with its historic startup and hardware-engineering business culture has specialized in the vanilla office and workplace building. For landlords, the better to usher in the next company when the last one outgrows your space, gets bought or quietly fails. And venture capitalists aren’t interested in financing fancy.

Read the full story at The Registry.

 

 

 

The San Francisco office market is still the hottest in the country and one of the hottest around the world. The thriving technology sector continues to power the local real estate economy. The economies of agglomeration that have driven technology growth in Silicon Valley over the past 30 years have expanded into San Francisco.

Read the full story at The Registry.