(EDITOR’S NOTE: The property has a current occupancy of 75 percent. There are a total of 38 tenants in the building. There is a very large contiqious space totaling 65,000 square feet that covers floors 7 to 10. This could be leased up to a single or multiple tenants. The lease with Arup reprents a new tenant for TMG and is the first deal with the tenant. Arup’s only other office in the San Francisco Bay Area is its main office at 560 Mission in San Francisco. This tenant has moved into a temporary suite space at 1330 Broadway. It will be moving into its space on the 13th floor sometime next year. TMG is planning to hold onto 1330 Broadway until at least the asset reaches stabilization. This would like be where the occupancy in the property is in the low 90 percent range. Once this happens then it would likely start to entertain offers for a sale.)
OAKLAND, Calif. (June 26, 2017) – TMG Partners, one of the Bay Area’s largest mixed-use property developers, announced today that multidisciplinary engineering and consulting firm Arup signed a ten-year lease for 16,034 square feet at the developer’s 1330 Broadway property in Downtown Oakland. Arup is expanding its footprint to include a new Oakland office, and will occupy the entire 13th floor. This new lease comes on the heels of Oracle’s recent expansion to the 18-story, 315,000-square-foot Oakland office building.
“We are pleased Arup chose 1330 Broadway as the location for their expansion here in Oakland,” said Adam Chall, partner at TMG Partners. “Our new lobby, amenities, and extensive building improvements are strategically intended to meet the wants and needs of tenants like Arup making the choice to locate here.”
TMG’s renovations to the project include a new main lobby and building entrance, new common area finishes, major elevator and building systems’ modernization, refurbished conference facilities, enhanced bike parking, and commuter showers. The building is at the 12th Street Oakland BART station and is directly served by AC Transit. 1330 Broadway is TMG’s first Oakland redevelopment. Last year, the firm also acquired 2201 Broadway, an eight-story 198,000-square-foot office building in Uptown Oakland.
“Arup is excited to grow our Bay Area presence to better serve our East Bay clients and to be part of the Oakland community,” said Aidan Hughes, managing principal of Arup.
TMG Partners was represented by Dane Hooks, Cushman & Wakefield. Arup was represented by John Dolby and Greg Fogg, Cushman & Wakefield.
About TMG Partners
TMG Partners, founded in 1984 and headquartered in San Francisco, is a full-service real estate development and management company. TMG has developed more than 25 million square feet of property throughout the San Francisco Bay Area, including Emeryville, Marin City, Novato, Palo Alto, San Bruno, San Jose and San Francisco. One of the most active developers in this area, the company has developed a variety of office, retail, residential and industrial properties, ranging from office campus and multi-story properties in urban, infill locations to mixed-use retail and single-story suburban buildings. For detailed information, visit www.tmgpartners.com.
Arup is the creative force at the heart of many of the world’s most prominent projects in the built environment and across industry. Its engineers and consultants deliver innovative projects across the world. Arup opened its first US office 25 years ago, and now employs 1,000 in the Americas. The firm was founded in 1946 with an enduring set of values that fosters a distinctive culture, intellectual independence and collaborative approach. The people at Arup are driven to find a better way to deliver better solutions for their clients. For more information, visit www.arup.com.