Oakland Records 592,000 Square Feet of New Leases In Third Quarter

Oakland, CA – November 10, 2015 – During the third quarter, companies moved into or expanded their presence in the heart of Oakland by more than 592,000 sf of office and retail space.

According to a compilation provided by real estate brokers to the Lake Merritt/Uptown and Downtown Oakland community benefit districts, among the significant transactions were:

  • Uber, the ride-on-demand giant, purchased the 1945 Broadway building capturing 381,622 sf of prime space for their expansion purposes.
  • Brown & Toland signed a 59,514 SF lease at 1221 Broadway for a medical office.
  • Sierra Club, an environmental club, signed a 38,776 sf lease at 2101 Webster.
  • Corelogic, a global property information, analytics and data-enabled services provider, signed a 23,842 sf lease at 555 12th Street.
  • California Institute of Regenerative Medicine, a stem cell agency, signed a 17,097 sf lease at 1999 Harrison Street.
  • Fluid, a digital shopping software firm, signed a lease for 16,004 sf at 1611 Telegraph Avenue.
  • Union Bank signed a 37,244 sf lease at 1221 Broadway.
  • The Punchdown, a natural wine bar and bottle shop, signed a 1,600 sf lease at 1737 Broadway.
  • Itani Ramen, a gourmet ramen shop, signed a 2,000 sf lease at 1736 Telegraph Avenue.
  • Cape Cowl Comics, a comic store, signed a lease for 1,400 sf at 1601 Clay Street.
  • Left Coast Power Yoga, a yoga studio, signed a lease at 563 16th Street for 1,300 sf.
  • SPUR, a leading civic planning organization, signed a 6,000 sf ground floor and 1,500 sf mezzanine lease at 1544 Broadway.
  • And two up & coming restaurant/bar concepts, that have yet to be named, have signed leases at 1915 Broadway for 3,500 sf & 1,600 sf at 1739 Broadway.

“The creativity with which Oakland businesses have embraced and developed new business concepts and services has gone beyond anyone’s expectations and is having a major positive impact on the health of our commercial real estate market. As this list of leases demonstrates, jobs are growing in our office towers, within street level retail and off Broadway both north and south,” said Steve Snider, Lake Merritt/Uptown & Downtown Oakland District Manager.

About Downtown Oakland and Lake Merritt/Uptown District Associations
The jointly administered Downtown Oakland and Lake Merritt/Uptown District Associations were formed in February 2009. Property owners in both Downtown Oakland and the Lake Merritt/Uptown Districts voted by a margin of almost 8 to 1 to support a voluntary property tax to fund services that would improve the quality of life in their respective communities. Services funded by these Districts include maintaining cleanliness and order in the public rights of way, improving district identity and advocating on behalf of the area’s property owners, business owners and residents. The Districts are key supporters of “Oakland Central”, a new lifestyle marketing campaign that employs several platforms and content partners to promote the heart of Oakland, otherwise known as Downtown Oakland’s Central Business District.

West Coast Commercial Real Estate News