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November 24, 2020
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CIM Group Gets Square Deal for Renovated Office Building in Downtown Oakland


Square has leased all of the roughly 322k sf of office space in the iconic Uptown Station building in Oakland, expanding Square’s Bay Area presence. Square anticipates it will begin taking occupancy of Uptown Station, at 1955 Broadway, in the fourth quarter of 2019, while still maintaining a significant presence in San Francisco within its current office at 1455 Market St.

The building is owned by CIM Group, who is in the final stages of completing a transformation of the 1920s-era, former department store at 1955 Broadway into Uptown Station, a 356k sf, eight-story Class-A creative office building with a multi-story atrium lobby and 35k sf of ground floor retail space. Uptown Station is situated at the nexus of three key arteries, Broadway, Telegraph Avenue, and 20th St in downtown Oakland’s Uptown district, a hub for arts and entertainment and located directly above a BART station.

Square works to foster growth in communities nationwide through small business educational programs, events, and local partnerships. Square will be an active partner with the city and community of Oakland, and is evaluating how to use its space at Uptown Station to create a supportive environment for local businesses and entrepreneurs. For example, in lieu of building a large-scale corporate cafeteria for Square, CIM Group will convert Uptown Station’s first-floor into a public marketplace, designed as a grand paseo featuring a variety of local restaurants and retailers.

“Oakland is committed to attracting businesses whose values align with our community, whose workforce reflects our inclusivity, and whose greatest priority is the long-term prosperity of every Oakland resident. With their proven commitment to empowering new and local entrepreneurs, I believe Square can be that company,” said Mayor Libby Schaaf. “There are few locations in the region that offer such an array of social, economic, and transportation benefits as Uptown Station, and Square could not have selected a more ideal location. My administration looks forward to working with the team at Square over the next year to ensure a demonstrated plan for economic empowerment, form partnerships with our local organizations, and build a diverse workforce that will serve our city and small businesses well.”

“We acquired Uptown Station almost a year ago believing that repurposing this building to modern creative office space in a transitioning district would be an attractive option for Bay Area businesses like Square that have significant space requirements and seek environments that foster collaboration and innovation,” said Avi Shemesh, Co-founder and Principal of CIM Group.

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