Lease Underscores Continuing Strong Confidence in Downtown Oakland
Oakland –TMG Partners, one of the Bay Area’s largest mixed-use property developers, and KKR announced today the execution of a lease transaction for 80,000 square feet with Fivetran, Inc, a fast-growing automated data integration company at 1221 Broadway in Downtown Oakland.
The project is a 24-story, 535,000-square-foot office building and is located at the intersection of Broadway and 12th Street. TMG is simultaneously undertaking a significant renovation, including the lobby, elevators, and common areas together with the addition of a fitness center and bike barn. With the Fivetran lease, 1221 Broadway is 90 percent leased with existing tenants, including Clorox, Union Bank, Wells Fargo Bank, and Parsons Brinkerhoff.
“We are excited to return to the office after over a year of working from home. We conducted an internal employee survey, as well as focus groups, to understand if and how employees wanted to come back to the office, and we designed a new office to support the hybrid model that our team told us they wanted,” said George Fraser, Fivetran CEO. “Our new office will be another employee benefit that makes Fivetran a great place to work and grow your career.”
The building has previously achieved a LEED Platinum rating by the US Green Building Council and features panoramic Oakland skyline and Bay views, onsite retail amenities, and ample parking, as well as bike lockers and showers.
TMG and KKR were represented by CBRE’s Scott Greenwood and Trent Holsman. Fivetran was represented by CBRE’s Daniel Bisabri and Raise’s Blake Stanley. Kyla Brennan, EVP and Head of Project Management from Raise will also act as Fivetran’s construction Project Manager.
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.
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.
Fivetran, the leader in automated data integration, delivers ready-to-use connectors that automatically adapt as schemas and APIs change, ensuring consistent, reliable access to data. Fivetran improves the accuracy of data-driven decisions by continuously synchronizing data from source applications to any destination, allowing analysts to work with the freshest possible data. To accelerate analytics, Fivetran automates in-warehouse transformations and programmatically manages ready-to-query schemas. Fivetran is headquartered in Oakland, California, with offices around the globe.