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.
Hayward Office/Flex Space For Lease
23314 Cabot
We have just been hired to list 7,500 square feet of office/flex space for lease at 23314 Cabot in Hayward. The asking rate is only $.55 per square foot industrial gross. The space is very flexible as it has nice office finishes and open area that can be used as a showroom, cubicle office space, or can be converted to warehouse space with excellent clear height. For more information 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.
Oakland Office Building Sells
Recently Ben and I represented the buyer on the sale of an office building at 230 Grand Ave in Oakland. The property is approximately 13,600 square feet and was fully occupied at the time of sale. The sale price was well below $100 per square foot. It represented a great value add investment as many of the leases were at well below market rates and the leases were expiring this year. Many of the tenants are long term with little risk of large vacancies as rates are moved up to market level. We are seeing many such opportunities for investors and the owner/user market for commercial real estate continues to be attractive. If you would like more information about this sale or other opportunities please contact Dave at (510)903-7601 or Ben at (510)903-7606.
New Office Leases at Oakland’s City Center
Three new offices leases have been recently completed at Oakland’s City Center Class A office project. TranSystems Corporation took 12,800 square feet on the 10th floor of 505 14th St for six years. Bechtel National Inc. signed up for 24,200 square feet on the 17th floor of 1111 Broadway for two years. Pacific Business Centers renewed their lease for 12,500 square feet at 1300 Clay St for an additional ten years. Even in this tough office leasing market City Center is able to maintain a low vacancy rate due to the quality of the office space and the prime location above the 12th St/City Center BART Station.
Oakland Bank Owned Property For Sale
Oakland Bank Owned Property
Earlier this month Ben and I got the listing for an interesting bank owned property located at 1671 8th St in West Oakland. The property is a mixed use retail building with a second story apartment. This REO is 8,220 square feet on an 11,700 square foot lot. The location is well suited for a retail or restaurant establishment and the second floor apartment can be occupied by an owner/operator or leased out for income. The proximity to the West Oakland BART Station and its planned expansion makes this property ripe for appreciation. To find out more information please view the flyer or contact us at (510)903-7600. We frequently track commercial properties that have received Notices of Default and can help locate opportunities for investors or users before the properties become REOs.
San Leandro Office and Flex Space
The Offices at Westgate offer San Leandro business many different options for business suites. The project offers office, flex, and warehouse suites. Westgate offers amenities such as:
- 24/7 on site security
- BART shuttle
- AC Transit and senior shuttle stops
- On site property management
- Starbucks, Jamba Juice, TOGO’s , Office Depot, Wal-Mart, and Home Depot
- Immediate access to I-880
- Free conference room
Tenant improvements are available for office suites and flex suites. Westgate can accommodate space needs from 700 square feet to over 20,000 square feet.
