TMG & KKR Sign Lease With Twitter For 66,000 SQFT in Oakland

(EDITOR’S NOTE: According to a statement by Twitter, the office will be the company’s first in Oakland and third outside of San Francisco and San Jose. The office will open in late 2022. The lease comes in response to a company survey, in which 95 percent of Twitter’s workforce stated it would prefer to work fully from home or work from the office just a few days a week.)

Lease Underscores Strong Tech Demand in Downtown Oakland

Oakland, CA — (Sept. 10, 2021) –TMG Partners, one of the Bay Area’s largest mixed-use property developers, and KKR, a leading global investment firm, announced today the execution of a lease transaction under whichTwitter will lease 66,000 square feet on four full floors at 1330 Broadway in Downtown Oakland, California.

“The Oakland office market has maintained strong tenant demand from companies both growing their footprint in Oakland and those looking to move to Oakland for its strong workforce, diverse lifestyle, entertainment options, transportation, and ample housing options,” said TMG’s Director of Development David Cropper. “Together with KKR, we are proud to welcome Twitter to 1330 Broadway as a long-term tenant.”

Upon acquisition, TMG’s and KKR’s renovations to the project included 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. TMG also owns 1221 Broadway together with KKR, as well as the Breuner Building at 2201 Broadway, 300 Lakeside Drive (PG&E) and the entitled Telegraph Tower project at Telegraph and West Grand.

“Twitter’s expansion into Oakland demonstrates that major employers are still drawn to our city’s unique cultural amenities and creative energy,” Oakland Mayor Libby Schaaf said. “I applaud TMG Partners and KKR for developing this trophy building.”

TMG and KKR were represented by John Dolby of Cushman and Wakefield.  Twitter was represented by Christina Clark and Matt Lehman of Cresa.

About TMG Partners

TMG Partners, founded in 1984 and headquartered in San Francisco, is a full-service real estate development and management company. One of the most active developers in the Bay Area Region, TMG has a portfolio of more than 30 million square feet across Oakland, San Francisco, San Jose, and other Bay Area cities that includes a variety of office, retail, residential, and industrial properties, ranging from office campus and multi-story properties in urban-infill locations to mixed-use and single-story suburban buildings. For detailed information, visit TMG Partners.

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries.

Courtesy of TMG
West Coast Commercial Real Estate News