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Chip giant Qualcomm wants to make its first major foray into the Bay Area, sources tell us.  The San Diego-based company has a sizable SoCal footprint. Its new interest in the Valley makes sense, considering other big companies that serve the wireless industry live here. It's unclear how much space the tenant needs. Last year, we took this pic of its San Diego HQ lobby, which shows off its wall of priceless patents. It'll likely be competing with the usual suspects searching for space here, from Apple to Google to LinkedIn, according to sources. Qualcomm did not respond to a request for comment. |
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A Sneak Peak of Related's Project |
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 We got our paws on Related's color-coded slide, just presented to the City of Santa Clara to show off what its 8M SF project north of Levi's Stadium will include (right now it's a 230-acre golf course and BMX track): 1.5M SF of retail, dining, hotel and entertainment uses (pink and purple), over 5M SF of office space (blue), about 400 residential units (yellow) and a hotel (orange). (Forget grad school; real estate experts need to make sure they mastered pre-school color lessons.) |
 Related California prez Bill Witte called Tuesday's session a "valuable opportunity" for the public to provide commentary for what will bring economic and community-wide benefits to the city, he tells us. He looks forward to creating "a dynamic city center in a strategic location" that will better capitalize on the area's potential. |
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Spec Is King In the Valley Federal Realty just announced its 225k SF office project on Lot 11 at Santana Row will go spec, starting construction this fall. Its same-sized neighboring Lot 9 site, under the entitlements process now, is also expected to start digging without a signed tenant. (Just as men and women are waiting longer to get married, buildings are taking their time before finding a mate.) Spear Street Capital is underway on a 225k SF building in north Santa Clara; Irvine is underway on a massive campus—Santa Clara Square.  Cornish & Carey EVP Phil Mahoney is marketing up a storm for Jay Paul, whose 2M SF Moffett Place project has three of its six buildings under construction. He's also leasing 1M SF for Ellis Partners in San Jose and another two 500k SF sites for Legacy in San Jose. Smaller sites are also getting started without a tenant in mind. The long-cited “flight to quality” continues to ring true; the top 12 leases this past year were in Class-A space.  In the last year, 2.5M SF of new supply has been delivered, and 65.3% of that has already been leased, according to Cushman & Wakefield. Average asking rates maintained upward trajectory through Q2, with the market-wide average asking rate of $2.84/SF a month, a 2.5% increase from Q1 and 11.8% higher than this time last year. |
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Bisnow's 50 NYC Power Women! |
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 Over 400 packed into our Bisnow NYC Power Women awards last night on West 26th in the Big Apple, as we celebrated 50 remarkable players who've shaped New York City (check our series: Part 1, Part 2, Part 3, Part 4, and Part 5). This was the third series and party after DC and Dallas this year. And there's more to come—in Atlanta, Boston, Chicago, and LA. Last night's honorees included the likes of CBRE's Mary Ann Tighe, whom we named last year the No. 1 broker in New York, Vornado EVP Wendy Silverstein, Douglas Elliman "queen of retail" Faith Hope Consolo, and Forest City Ratner CEO MaryAnne Gilmartin, among many other notables. |
 MaryAnne leads the charge at mega-development Pacific Park Brooklyn (nee Atlantic Yards) and oversees the firm's 16.7M SF across 42 buildings. Twenty years after she joined the firm, one year since she took over for Bruce Ratner, and six weeks after the company closed on a massive equity infusion from Greenland Group for Pacific Park Brooklyn, she is in the key position of determining what her company can and should do next. She came to NYC as an urban fellow and worked in economic development under mayors Koch and Dinkins, then Bruce recruited her after she helped bring Bear Stearns to his MetroTech Center in Brooklyn. Her breakout: Midtown's NY Times Building, which she got done through the slow period after 9/11. |
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5th Bisnow Video With Bisnow Education's latest video, Real Estate and Their Asset Classes, we drill down to fine-point dynamics of the industry itself, explaining vital differences among the many opportunities (economic and otherwise) commercial real estate has to offer. Peter Linneman, Wharton's real estate program founder and chairman, continues to share his extensive knowledge of how real estate sectors differ in operating, organizing and providing revenue, including:
This is our latest video and video No. 5 in our hugely popular educational series, with more to come. This one contains two-and-a-half hours of useful information, but it can be digested in bite-sized, five-minute spoonfuls that go down easy (watch a sample here). It's available to Bisnow readers for only $59, or purchase all five videos for $199. Order yours here, and for training program group licenses, email Will Friend at will@bisnow.com. |
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