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.
San Leandro Office Space Leases
We just completed a new lease with a company at 14895 E 14th St. The landlord’s ability to provide tenant improvements and to complete the deal quickly were major factors in getting this lease done. We were able to provide a very attractive lease rate for the tenant. If you would like to know how we can help your company find the right space please contact Dave at (510)903-7601 or Ben at (510)903-7606.
New to the Market Jack London Office/Retail Condo For Sale
283 4th St
After the recent sale of the penthouse office suite in the Allied Paper Building at 283 4th St in Oakland’s Jack London Square the seller has decided to have us take the ground floor unit to the market. The unit is well built out to allow for either office or retail users and the location is only going to become more desirable as the Ellis/Divco West development fills with office and retail tenants. The parking garage at the development has already opened allowing a buyer here to access monthly parking less than two blocks away.
Mezzanine
The extensive windowline allows for excellent retail exposure or abundant natural light for an office user. Office users will also like the reception, mezzanine, and kitchenette – see photos below.
Reception
Kitchenette
For more information about this property please contact Dave at (510)903-7601 or Ben at (510)903-7606.
San Leandro Office Space For Lease
Offices For Lease
Ben and I were recently hired to list an office building for lease. The property, located at 14895 E 14th St in San Leandro, has multiple available office suites ranging in size from 467 square feet up to 2,778 square feet. These spaces are ideal for small businesses and as incubator space for start ups and non profits. The property has local ownership that is experienced in making deals and keeping tenants happy. The location allows for easy access to both the 580 and 880 freeways and is on one of the main traffic areas through San Leandro providing for excellent exposure. There is also ample free parking on site.
For more information on available suites or for help with your requirement please contact Dave at (510)903-7601 or Ben at (510)903-7606.
Oakland Office Space For Under $1 Per SF?
It is true! Companies can now lease Class B office space in the Oakland Airport submarket for under $1 per square foot. The new owners of 7700 Edgewater Dr , Polidev International, have brought Ben and me on as the leasing agents and have started a new program to fill the property quickly. Under the current promotion we are leasing suites over 1,000 square feet on an as is basis for only $.99 per square foot fully serviced.
For those of you not familiar with real estate speak a full service lease includes all utilities etc in the lease rate so you can lease a 1,000 square foot suite for only $990 per month. We have suites ranging from 357 square feet up to as much as 30,000 square feet. This unique opportunity undercuts the market for office space in the Oakland metro area while offering local businesses and non profits the chance to significantly cut overhead costs.
You might be asking how they can offer such low rates and the simple answer is that they bought the property in a distressed situation. Because Polidev got such a great price they are able to pass the deal along to tenants. For more information or to tour the property please contact Ben Jones at (510)903-7606 or Dave McCarty at (510)903-7601.
Watergate Office Towers in Emeryville in flux.
Emeryville’s Watergate Office Tower tower may be another losing a tenant. Consulting group LECG, currently located 2000 Powell, has merged with Smart Business Advisory & Consulting in Devon, Pa. LECG looks to be relocating is Emeryville headquarters to Devon, PA as a result of the merge.
This continues a streak of negative news for the Watergate Office Towers. Following a subsidiary of Hines giving the keys back to the back defaulting on their loan, US Bank which currently holds the Watergate Office Towers, has been trying to sell the Project. Local entity TMG Partner has been granted receivership of the property, managing the project for US Bank.
Lease rates in the project have dropped from highs, in 2008, of over $3.00 per square foot, to below $2.00 per square foot in 2010. Leases in the office towers as recently as January have been signed at $1.87 psf fully serviced.
For additonal information or to learn more about how you can reduce you leasing costs please contact Dave McCarty or Ben Jones at 510-903-7600.
New Jack London Square Lease
The Northern California food brokerage firm Aiello-Coyle Blaschak leased 2,600 square feet for it’s new headquarters Ellis Partners 70 Washington in Jack London Square. The redevelopment of Jack London Square continues to move foward while small tenant continue to move into the area.
Jack London Square ’s $375 million, 1 million-square-foot redevelopment includes restaurants, entertainment, parking facilities and 100,000 square feet of Class A office space . Jack London Market is expect to open in 2010, but the Class ‘A’ office building has as of yet been able to attract any tenants.
