Thursday, September 22, 2011

RSS Text Size Print Share This Tampa losing flashy start-up tech company to California

Many start ups believe in San Francisco Relocation.....
Maybe the Dotbomb thing wont die =)
Every week you are starting to hear about a new start up in SF....AIR BnB etc.....
good times

One of Tampa's hotter start-up companies, TourWrist, is flying the coop and moving to the technology capital of the planet, San Francisco.

"We would have preferred to stay in Tampa," said founder Charles Armstrong, but the company has started attracting interest from venture capitalists and will likely complete a first round of funding within six weeks.

TourWrist was something of a technology offspring of the Tampa advertising and branding firm Spark, through its Spark Labs project and it developed a smart phone and tablet app that lets users view 360-degree photos on their phone.

By using the phone's compass and motion sensor, users can physically spin themselves up, down, left and right and seemingly peer through their device into another place in the world.

The name plays on the word "tourist" and using ones "wrist" to spin around.

For instance, auto makers have been using the app to display the interior of their cars, and real estate agents and hoteliers have been using it to display their properties. TourWrist only went live on the Apple system in the spring of last year, but became one of Apple's most popular apps, with more than 20,000 downloads a week.

Only last June, TourWrist won awards at the Tampa Bay Technology Forum's coolTECH event for local technology projects.

Other companies are getting into the 360-degree game as well, and automaker Nissan recently launched a similar app to show the interior of their cars.

TourWrist had only a handful of employees, but the symbolism of their departure is a bitter pill for Tampa with only a small silver lining, say executives here who have been trying to build more of a technology community.

"TourWrist is a win for Tampa and demonstrates that we have the means to incubate hot companies and prepare them for Silicon Valley's venture scene," said Brent Britton, an attorney at Gray Robinson and advisor to TourWrist. "It's unfortunate TourWrist could not get funded here. We'll miss the jobs they would have created."

Britton noted that technology investing takes skill and a tolerance for risk, and there's a common sentiment that "Tampa's early stage investors wouldn't know a hot startup if it bit them on the rotary phone they use to dial up their AOL account. But I think we can change that."

Tampa Bay has plenty of wealthy investors, said George Gordon, chairman and chief executive of the energy software company Enporion and past chairman of the Tampa Bay Technology Forum.

"A lot of those people made their wealth in real estate or manufacturing and not so much tech," Gordon said. "And people like to invest in things they know and understand and where they can add value."

San Francisco is flush with technology billionaires, Gordon notes, and successful early stage or "angel" investors in technology visit companies they support monthly, if not more often, "and they don't want to live on airplanes to get there."

Calif theme park sale paves way for 49ers stadium

Looks to me like the 49ers are moving to santa clara if they are buying Great America.
That in turn should make San Jose Real Estate even more desirable...If the 49ers relocate to san jose it is a win win
good news for real estate investors and homeowners here in San Jose CA

By: The Associated Press | 09/19/11 6:01 PM
The Associated Press
The owners of the San Francisco 49ers are teaming with a local real estate firm to buy a Santa Clara theme park that had opposed the 49ers' new stadium plans.

The San Jose Mercury News reported the deal by the York family and JMA Ventures on Monday. The $70 million deal to buy Great America is expected to help clear the way for a new football stadium next to the park.

Currently, the city of Santa Clara leases the land the park operates on to Ohio-based Cedar Fair for $5 million a year. Cedar Fair did not support a stadium proposal and sued the city for a loss of parking and other reasons.

JMA Ventures supports a new stadium.

Santa Clara's city council still must approve the purchase.


Information from: San Jose Mercury News,

Read more at the Washington Examiner:

Wednesday, September 21, 2011

San Jose police raid pot co-op tied to suspect in radio host's killing

This is surely the craziest article I have read about San Jose Real Estate I have read in quite a while.....Cant quite understand the motive but I am sure a jury/court will figure it out!
Read on:

Two people connected with a San Jose marijuana collective helped Paul Ray Castillo elude officers after he allegedly shot a man who was pumping gas then killed a radio show host last week, police said Tuesday night.
Police said they raided the TreeHouse Marijuana Collective at 190 Commercial St., near Interstate 880 and Highway 101 after serving a search warrant on the dispensary. No other details were released, and police would only say that two people "associated" with the collective "aided and abetted Castillo after the homicide and assisted in his escape."
Police were expected to release more information Wednesday on the latest development and provide more details on Friday's crime spree.
Also on Wednesday, Castillo, 33, is due in court to enter a plea to charges that he shot a man at a Willow Glen gas station, then carjacked, kidnapped and killed 60-year-old Cindy Nguyen last Friday. Friends of Nguyen, a Vietnamese radio personality and real estate agent, plan a vigil on Friday.
Officers tracked down Castillo to an East San Jose neighborhood a few hours after the crime wave. But after officers s hot at Castillo, he managed to escape as police locked down the neighborhood and searched homes all night. Police have not yet said how they think Castillo escaped or said whether they have arrested anyone else.
The paroled ex-convict was arrested in a West Sacramento pizza shop on Sunday.

Slice of Silicon Valley as social media moves in Read more:

Dotcoms are back and so is Silicon Valley Relocation!!!
Looks like the economy is still looking good in SV....

DOTCOMS are back. A decade after they fled from their large, funky offices leaving North Sydney a ghost town, they are now back filling the office void caused by the shrinking corporate sector.
The internet may be the nemesis of retailers but the rise of social media platforms has been a fillip for landlords following a slow start to the year.
The uncertainty in global financial markets has translated to increased business caution by financial companies looking to relocate or expand within the central business district.
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In some instances, offices are being left empty as banks and law firms relocate across the city.
These spaces are being upgraded and rented to fast-growing internet businesses. Unlike 10 years ago, these former dot.bombs are now leasing prime office space in the CBD, further cementing their image as serious top 100 corporate businesses.
CB Richard Ellis's associate director, Stuart McSorley, said tenants were actively leasing 200 to 900 square metre offices, with online operators leading the pack.
Mr McSorley said the lack of financial services and recruitment activity, which traditionally drives Sydney's leasing market, has been offset by the rising demand from online operators such as social media and group buying providers.
Google, which has a long lease at Pyrmont, is on the hunt for an additional 10,000 square metres, equal to about four big office floors, to accommodate its growing staff numbers.
Facebook has signed up the penthouse floor at 77 King Street, above the Apple store, while LinkedIn has leased space at 130 Pitt Street for a minimum of five years.
The latest deal involved online site, which has leased an office on level 11 of the Australia Square Plaza Building at 95 Pitt Street for $670 a square metre for four years.
Leasing agent, Thomas Fredriksen at Knight Frank, said the deal was to establish the group's Asia Pacific head office.
''The exponential growth in the use of the internet in everyday life is driving the growth and relocation of the businesses from the fringe areas to being right in the heart of the CBD,'' he said.

Read more:

Friday, September 16, 2011

Polycom strikes deal to move HQ from Pleasanton to San Jose

A lot of companies are looking for San Jose Real Estate!
Silicon Valley Relocation is getting to be a large focus for companies this year.
San Jose Relocation for employees is making the valley look hot again!
The economy may be poor is some parts of the country, but it isnt that bad here in the South Bay.
If you are looking for a good area to live in, the Valley cant be beat.

Polycom said Monday it will depart Pleasanton and move its headquarters to a North San Jose building that could accommodate about 650 employees as it rapidly expands.
The technology company said being in the center of Silicon Valley would be a more appropriate site for its headquarters as it grows.
"We want to have a world-class, state-of-the-art headquarters as we scale from a billion-dollar to a $3 billion company," said Ashley Goldsmith, Polycom's executive vice president of human resources. "We are moving to the epicenter of high tech."
While the relocation is welcome news for San Jose, Pleasanton officials believe the company's departure won't sting as much because of other growth in the East Bay

Were Polycom to move today, it would relocate more than 375 employees. Yet the six-story building it will take along Highway 237 could contain 600 to 700 workers.
The company's headquarters, technology demonstration center and other operations will be at the new San Jose site.
Polycom has become a dominant player in "unified communications" that blend video, audio and Internet-based communications in a seamless web. It is taking on major foes in the market, including its future San Jose neighbor, Cisco Systems (CSCO).
Over the year that ended in June,
Polycom generated $1.36 billion in sales and $112.9 million in profit.
"It's great to have the jobs in San Jose," Mayor Chuck Reed said. "This is a great location for a world headquarters. This is going to be a good location for the employees." He cited amenities such as new retail, including a Target store, along with future hotels in the area.
The company leased about 214,000 square feet in the America Center on the north side of Highway 237 near Great America Parkway, according to Cornish & Carey, and Studley, the commercial realty firms that arranged the deal.
The one building that Polycom will occupy provides plenty of room for its current growth needs. But the America Center project could accommodate Polycom's future needs as it grows.
"There is ample room for expansion for Polycom and anyone else in the project," said Phil Mahoney, an executive vice president with Cornish & Carey.
Polycom's lease also extends a string of major property expansions by top-flight tech companies. Google (GOOG), Apple (AAPL), Dell, VMware, Facebook, Microsoft, Motorola, Juniper Networks and have all gobbled up big chunks of office space this year.

San Jose City Council approves Netflix deal

The San Jose City Council approved a $5 million tax-incentive deal Tuesday with Netflix for the video-rental company to relocate and expand its DVD division to the city.
Netflix is headquartered in Los Gatos and currently leases 250,000 square feet of space in three locations. Los Gatos recently approved a 550,000-square-foot Netflix development project. Under the San Jose deal, Netflix will lease 55,000 square feet of office space at 1732 N. First Street that was formerly occupied by the city's airport administration.
Under the 5-year lease agreement, San Jose will provide Netflix payments equaling half of sales tax receipts from the company's operations in the first year, 40 percent in the second and 30 percent in the third. The incentives are to offset $1.6 million in improvements Netflix plans to make for its San Jose operation, which will employ 225. The company plans to move the DVD division Oct. 1.
One resident, Ross Signorino, questioned why cash-strapped San Jose should give any company a tax break.
But Mayor Chuck Reed and other city officials said the company only gets paid if it provides new revenue to the city. They noted that Netflix had many choices for its relocation and that other cities and states are competing for such business.