Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Adobe Systems    ADBE

My previous session
Most popular
Delayed Quote. Delayed  - 12/14 10:00:03 pm
230 USD   -7.29%
12/14ADOBE : Is Bullish Over Its Prospects for '19
12/14ADOBE : Raises Revenue Forecast -- Update
12/10ADOBE INC : annual earnings release
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Adobe : San Jose's downtown shopping spree rockets past $1.4 billion in one year

share with twitter share with LinkedIn share with facebook
share via e-mail
10/15/2018 | 09:33pm CET

Oct. 15--SAN JOSE -- Tech titans Google and Adobe Systems, an array of developers, up-and-coming realty entrepreneurs, along with overseas investors from as far away as Asia, have unleashed a buying binge in downtown San Jose that totaled $1.43 billion during the 12 months that ended in September, according to Santa Clara County public records and this news organization's analysis of the transactions.

"This is finally downtown San Jose's moment," Scott Knies, president of the San Jose Downtown Association, said during a recent presentation that included his estimate that downtown property purchases had reached the billion-dollar pinnacle over the last year.

The buying activity in downtown San Jose over the recent 12 months, measured by the amount spent by the purchasers, is nearly three times as much as the $484 million buyers spent on downtown properties over the prior one-year period that ended in September 2017.

"It's phenomenal to see all of the activity downtown," said Geri Wong, a senior managing director with Newmark Knight Frank, a commercial realty firm. "We're seeing tremendous interest in downtown San Jose."

Google's proposal for a transit-oriented community of office buildings, residences, restaurants, shops and open spaces where 15,000 to 20,000 of the search giant's employees could work near the Diridon train station has bolstered confidence in the area.

"What Google is looking at is a daisy chain of next-generation buildings parallel to the train tracks," Knies said.

Adding to the enthusiasm: Adobe System's plan to add a fourth tower to its three-building downtown San Jose headquarters campus in an expansion that is expected to double the cloud services giant's employment presence in the central business district.

What's more, the Diridon Station on the western edges of the downtown is slated to become a "Grand Central Station of the West," as San Jose political and business leaders put it. The transit complex, already a stop for Amtrak, the Capitol Corridor train, Caltrain, the ACE Train, light rail and buses, is approved as a BART station and could even become a stop for California's high-speed rail network.

The biggest property purchase over the 12-month period was the July acquisition for $283.5 million of the Cityview Plaza office, retail and restaurant complex a short distance from The Tech. Jay Paul, a veteran Bay Area developer, has taken some preliminary steps that would accommodate a complete replacement of the complex with a modern campus.

Additional major deals that topped $100 million: The acquisition of the Fairmont Hotel for $221.7 million, the acquisition of Riverpark Tower 2 for $164.7 million, the sale of the two office towers at 75 E. Santa Clara and 4 N. Second streets for $127.7 million, as well as separate deals to buy Riverpark Towers 1 for $101.5 million, 160 West Santa Clara Street for $101.5 million.

Rounding out the 10 largest deals of the last year: The purchase by Adobe Systems of parcels on West San Fernando Street for $68 million across from its headquarters for a campus expansion, the acquisition of the choice Valley Title office building and adjacent parking lot for $64 million by a group led by realty entrepreneur Gary Dillabough, Jay Paul's acquisition of an office building at the corner North First and West Santa Clara streets for $46 million, and the purchase of an office building at 152 N. Third St. for $40 million.

Not making the 10 largest known deals, but still noteworthy: Google's acquisition of the Orchard Supply Hardware site just south of West San Carlos Street for $38.6 million and The Bank of Italy purchase by Dillabough and WeWork for $33.8 million.

"We have an extraordinary chance to create a city within a city," Knies said.


* Report an error

* Policies and Standards

* Contact Us


(c)2018 the San Jose Mercury News (San Jose, Calif.)

Visit the San Jose Mercury News (San Jose, Calif.) at www.mercurynews.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on ADOBE SYSTEMS
12/14MARKET SNAPSHOT: Dow Tumbles Nearly 500 Points To Enter Correction Territory ..
12/14Johnson & Johnson, Adobe and Starbucks dip; Sealed Air rises
12/14ADOBE : Is Bullish Over Its Prospects for '19
12/14ADOBE : Raises Revenue Forecast -- Update
12/14ADOBE : After Effects CC & Photoshop CC Wins Sci-Tech Academy Award
12/13ADOBE : quarterly revenue surges 23 percent
12/13ADOBE : Fiscal 4Q Earnings Snapshot
12/13ADOBE INC. : Results of Operations and Financial Condition, Financial Statements..
12/13ADOBE : Reports Record Quarterly and Annual Revenue
12/12ADOBE : Sign for Dropbox Extensions Now Available
More news
Financials ($)
Sales 2019 11 124 M
EBIT 2019 4 438 M
Net income 2019 2 915 M
Finance 2019 3 671 M
Yield 2019 -
P/E ratio 2019 39,42
P/E ratio 2020 30,93
EV / Sales 2019 9,76x
EV / Sales 2020 8,09x
Capitalization 112 B
Duration : Period :
Adobe Systems Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ADOBE SYSTEMS
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 291 $
Spread / Average Target 27%
EPS Revisions
Shantanu Narayen Chairman, President & Chief Executive Officer
John Francis Murphy Chief Financial Officer & Executive VP
Abhay Parasnis Chief Technology Officer & Executive VP
Cynthia A. Stoddard Chief Information Officer & Senior Vice President
John E. Warnock Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
ADOBE SYSTEMS41.57%112 271
WORKDAY59.26%35 323
AUTODESK25.44%28 800
SQUARE INC79.23%25 695
ELECTRONIC ARTS-23.03%24 219