DTZ Represents Tenant and will Provide Project and Development Services
OAKLAND, CA – August 18, 2015 – DTZ, a global leader in commercial real estate services, announced today that Brown & Toland Physicians has completed a lease transaction to relocate its corporate headquarters from San Francisco to downtown Oakland. The company plans to move to its new headquarters by April 2016.
Brown & Toland executed a multi-year lease for ±60,000 square feet at the Clorox Building in the City Center Complex in downtown Oakland. The company, with doctors, clinicians, and patients in San Francisco, Marin, San Mateo, Alameda and Contra Costa counties, will also maintain a satellite office in San Francisco. The relocation of the corporate office to the East Bay will unite Brown & Toland employees in Emeryville with those currently located in San Francisco, bringing most of the company’s employees together in one location.
“Brown & Toland has been a leader in the healthcare industry in San Francisco since 1992, and we expanded to the East Bay and Alameda County in 2011,” said Richard Fish, Brown & Toland’s Chief Executive Officer. “As a growing organization, we are excited about the move to Oakland and continuing to provide all of our Bay Area doctors with the electronic tools, programs and services they need to provide quality patient care.”
Fish noted that the ±60,000 square foot space will be custom-built to fit Brown & Toland’s needs. He added that when looking for office space, accessibility to public transportation, major highways and a thriving downtown area became chief priorities.
Tim Hogan and John Dolby with DTZ’s San Francisco and Oakland offices represented Brown & Toland in the lease transaction. Additionally, the company hired DTZ’s Project and Development Services team to provide tenant improvement work on its new customized space, an effort being led by Rick Coeur, LEED AP.
“This is the largest relocation of a tenant from San Francisco to downtown Oakland we have tracked, with Matson Navigation in 2003 (52,000 square feet) and Koret of California in 1998 (51,000 square feet) among the others,” said Mr. Dolby. “This new occupancy will bring Class A vacancy in downtown Oakland to below 8%, meanwhile Class B is less than 6%. With just one single block of space larger than 50,000 square feet currently available, Oakland will need to build new inventory to attract other large tenants.”
Brown & Toland’s corporate headquarters has been located in the South of Market area (SoMa) in San Francisco since July 2003, and the organization also currently has employees at locations in Emeryville and Modesto.
DTZ is a global leader in commercial real estate services providing occupiers, tenants and investors around the world with a full spectrum of property solutions. The company’s core capabilities include agency leasing, tenant representation, corporate and global occupier services, property management, facilities management, facilities services, capital markets, investment and asset management, valuation, research, consulting, and project and development management. DTZ provides property management for 1.9 billion square feet, or 171 million square meters, and facilities management for 1.3 billion square feet, or 124 million square meters. The company completed $63 billion in transaction volume globally in 2014 on behalf of institutional, corporate, government and private clients. Headquartered in Chicago, DTZ has more than 28,000 employees who operate across more than 260 offices in 50 countries and represent the company’s culture of excellence, client advocacy, integrity and collaboration.
DTZ announced an agreement to merge with Cushman & Wakefield in a May 11 press release. The new company, which will operate under the Cushman & Wakefield brand, will have revenues over $5.5 billion, over 43,000 employees and will manage more than 4 billion square feet globally on behalf of institutional, corporate and private clients. The agreement is subject to customary closing conditions and is expected to close before the end of 2015. For further information, visit: www.dtz.com or follow us on Twitter @DTZ.