By Meghan Hall
Credit Karma is growing, and the credit score firm has chosen to expand its lease at 1100 Broadway in downtown Oakland. According to sources familiar with the transaction, Credit Karma has taken an additional 54,000 square feet in the building, owned by Ellis Partners, expanding its total footprint to 160,000 square feet.
Credit Karma had originally signed a lease for 106,000 square feet in April. The building is also known as The Key at 12th, and Ellis Partners began construction on the project back in January 2018. The project will be delivered next year, and as one of Oakland’s largest office projects, will total about 334,000 square feet of space. The new building also includes renovating and incorporating the eight-story Key Systems building into the 18-story high-rise.
Ellis Partners acquired the Key System Building, constructed in 1911, in 2017 along with a vacant lot at the corner of 12th and Broadway. According to Ellis Partners’ website, the building has been empty since the 1989 Loma Prieta earthquake. The developer hired Gensler to design the development, which features a sidecore layout, open floorplates and large windows. Two sky decks, as well as 11,000square feet of ground floor space for retail and restaurants are also part of the project plans. Other amenities include a private locker and showers for building tenants, private elevator bank for Credit Karma’s use to reach its new offices on the upper eight floors, ground floor parking and bike parking.
Brokerage firm JLL represented both Credit Karma and Ellis Partners in the deal.
With the expanded Lease, Credit Karma has taken all remaining space in the building, bringing it to 100 percent pre-leased. The University of California’s Office of the President has taken the other half of the building, leasing 165,000 square feet of space.