The news follows announcements that Ask Jeeves slashed 25% ofits workforce and replaced CEO Robert Wrubel. The company's stockhas also suffered the fate of many in the Web business, trading ata record low of $3 a share after hitting nearly $200 a share oneyear ago. In it's most recent quarter, which ended on Sept. 30, AskJeeves posted losses of $38.5 million on revenue of $29million.

A spokeswoman for Ask Jeeves said the company's new managementis studying its growth projections and evaluating its real estateneeds. Ask Jeeves recently recruited Adam Klein, formerly vicepresident of Hasbro, to take over the role of president.

Scheduled to move in January 2002, Ask Jeeves signed a leaseearlier this year to be the building's anchor tenant and haspledged substantial collateral on the seven floors there, locatedat 555 City Center. Represented by Aegis Realty in its lease, AskJeeves--a real language web search engine that allows web surfersto enter their search in the form of a question--will take 180,000sf in the building, under development by Shorenstein Co.Currently,the company is headquartered 5858 Horton St. in Emeryville, whereit occupies 75,000 sf.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.