SiliconBeat

NeoMagic, the insolvent chip maker that ceased searching for new business last September, settled last week with its former landlord last week by agreeing to pay $35,000 over the next 60 days to settle the landlord’s claim of $2.04 million. Combined with a Read the rest of this entry »

Sonicwall, the Sunnyvale supplier of network security tools, has agreed to lease 72,000 square feet from chip maker Xilinx at 2001 Logic Drive in San Jose and will relocate its headquarters there after the lease on its current Sunnyvale space expires Sept. 29. The new lease begins Sept. 1 and continues for an initial term that expires Sept. 30, 2014.

While the initial rental rate was not disclosed, Sonicwall committed itself to annual rent increases of Read the rest of this entry »

A 41-acre plot of land in north San Jose described as one of the few relatively large pieces of undeveloped land left in Silicon Valley  is reportedly on the verge of being forfeited by Rockefeller Center owner Tishman Speyer Properties as it defaults on an $86.2 million loan from Bank of America used to buy the site, according to a Bloomberg News report citing people Read the rest of this entry »

The head analyst of commercial mortgages at Deutsche Bank Securities told Reuters today that commercial real estate markets in the U.S. cities could fall as much as 50 percent from their peak in 2007 and that they probably won’t recover until 2017.

“The froth is still working itself out,” said Read the rest of this entry »

Phoenix Technologies is closing its Tel Aviv facility and eliminating about 26 workers there as it relocates product development activities undertaken at the Israeli site to other facilities.

The move is expected to result in Read the rest of this entry »

MIPS Technologies will pay no rent during the first six months of a seven-year lease it signed Feb. 27 with AMB Property for 36,013 square feet of R&D space at 955 E. Arques in Sunnyvale, according to the lease, which begins June 1.

In the seventh month of the lease, MIPS will begin paying $52,281.85 per month for the space, or $1.45 per square foot per month, with three percent annual increases thereafter.

Commercial property owners in Silicon Valley are facing their most inhospitable environment in two decades, according to a press release put out by Cornish & Carey Capital, the financing arm of the Santa Clara-based commercial real estate broker that is touting the launch of a new division specializing in “distressed assets.”

”For the first time since the 1980’s, owners are Read the rest of this entry »

Drug maker Gilead Sciences agreed to buy a 163,000-square-foot office building (pictured here) at 301 Velocity Way in Foster City from Electronics For Imaging, along with 30 acres of land designed to accommodate up to an additional 542,000 square feet of office space for $137.5 million, according to a regulatory filing Thursday.

The property borders Read the rest of this entry »