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BAY AREA NEWS
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Downtown Oakland Sees Strong Demand for Space in the Third Quarter

11/13/15

Oakland continues to enjoy strong leasing activity. During the third quarter of this year, companies moved into or expanded their presence in the heart of Oakland by more than 592k sf of office and retail space.

Listed below is a quick rundown of some of the transactions during the quarter in the Lake Merritt/Uptown and Downtown Oakland community benefit districts:

• Uber, the ride-on-demand giant, purchased the 1945 Broadway building capturing 381.6k sf of prime space for their expansion purposes.
• Brown & Toland signed a 59.5k sf lease at 1221 Broadway for a medical office.
• Sierra Club, an environmental club, signed a 38.8k sf lease at 2101 Webster.
• Corelogic, a global property information, analytics and data-enabled services provider,
• signed a 23.8k sf lease at 555 12th Street.
• California Institute of Regenerative Medicine, a stem cell agency, signed a 17.1k sf lease at 1999 Harrison Street.
• Fluid, a digital shopping software firm, signed a lease for 16k sf at 1611 Telegraph Avenue.
• Union Bank signed a 37.2k sf lease at 1221 Broadway.
• The Punchdown, a natural wine bar and bottle shop, signed a 1.6k sf lease at 1737 Broadway.
• Itani Ramen, a gourmet ramen shop, signed a 2k sf lease at 1736 Telegraph Avenue.
• Cape Cowl Comics, a comic store, signed a lease for 1.4k sf at 1601 Clay Street.
• Left Coast Power Yoga, a yoga studio, signed a lease at 563 16th Street for 1.3k sf.
• SPUR, a leading civic planning organization, signed a 6k sf ground floor and 1.5k sf mezzanine lease at 1544 Broadway.

And two up and coming restaurant/bar concepts, that have yet to be named, have signed leases at 1915 Broadway for 3.5k sf and 1.6k sf at 1739 Broadway.

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.






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