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.
Sutter Health signs two new leases at 3300 Broadway in Oakland
Two Sutter Health Affiliates signed leases in February at the Broadway Webster Medical Plaza. They will be the second and third new tenants that the Class ‘A’ Medical Office building will have welcomed to the building in 2010. Sutter Westbay M
edical Foundation signed a seven year full service lease for +/- 2,640 square feet. The Sutter Westbay Medical Foundation will have a newly built out medical office space on the second floor. Health Ventures Inc an affiliate of Sutter Health will be taking over the former Longs Drug space on the ground floor of 3300 Webster St by signing a 10 year lease. The re opening of the pharmacy in the Broadway Medical Plaza will allow doctors and patients to have direct access to a full pharmacy with in the building. The pharmacy hopes to be open by mid summer.
For more information on lease office space in the East Bay or the leasing space at the Broadway Webster Medical Plaza please contact Dave McCarty or Ben Jones at 510-903-7600.
