East Bay Office Group
Oakland Office Lease Renewal / Extend and Blend
Ben and I recently represented a client on what we call an extend and blend transaction for their Oakland office space. We were able to approach their landlord and lower their current rent rate by extending the term. In exchange for the longer term the landlord was willing to give the tenant a break on their remaining lease term. In troubled economic times like these when vacancies tend to be high and competition among landlords is fierce an extend and blend transaction can be a valuable tool enabling tenants to lower their current rent while locking in the current low lease rates for a long time. We were able to save our client approximately 12% on their rent expense over the next 30 months. These saving can be significant over the life of the lease.
If you would like a no obligation lease review to see if a blend and extend is right for your company please contact Dave at (510)903-7601 or Ben at (510)903-7606.
Oakland City Center Offices For Lease
City Center Spec Offices For Lease
Over a year ago Shorenstein Properties built multiple spec suites on the third floor of 505 14th St in Oakland’s City Center. These spaces range in size from 2,110 square feet to 3,522 square feet. The hope was that these would be snapped up by small businesses wanting the prestige of being located at City Center with ample amenities, easy freeway access, and an on site BART station. To the surprise of most of the market there has been little leasing activity on these suites. This presents an interesting opportunity for small businesses to lease Class A Oakland office space at historically low rates as Shorenstein is eager to make deals in order to recoup the cost of the building out the suites. For information on these office suites for lease or other properties please contact Dave at (510)903-7601 or Ben at (510)903-7606.
