The Crittenden Lane building, sits on 6.5 acres of land leased from the City of Mountain View. The property is currently in escrow with New York based Goldman Sachs who is buying the property for investment purposes. The deal is scheduled to close at the end of July when construction is to be completed.

The Shoreline Boulevard building sits on approximately 8.1 acres of fee-owned land, 4.9 acres of which can still be developed. The asking price for the building and the remaining acreage is $41 million, or $350 per sf. The 4.9 acres lists at $11 million.

The Crittenden building is listed with Cushman & Wakefield's New York office and the brokers are Larry Wilks and Michael Rotchford. Brad Martin and Jim Allsup of Cushman Wakefield's San Jose office have the Shoreline listing.

"We would like to sell the Shoreline property in one deal," says Martin, "but we would not rule out the selling the building and land separately. The land has building capacity for a 70,000 sf to 75,000 sf building with parking capacity of approximately 3.3 per 1000."

Silicon Graphics Inc. said last week in conjunction with a worse than expected third quarter earnings report that it plans to reduce its global work force by about 1,000 employees, or 15%. For the three months ended March 31, SGI posted a net loss of $ 141 million, or 74 cents per share, compared with a net loss of $18.1 million, or 10 cents a share, in the same quarter a year ago.

The results included a non-cash write-off of $ 83 million for a venture investment. Analysts surveyed by Thomson Financial/First Call estimated the company would lose 25 cents a share.

Instant Insights /

SGI Selling Two Mountain View Buildings

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