|
|
9/01/15
|
Brown & Toland Physicians inked a 10-year lease to relocate its corporate headquarters from San Francisco into 60k sf of space at the Clorox Building in the City Center Complex in downtown Oakland. The company plans to move to its new headquarters by April 2016.
Although a deal value was not given out, a local pro familiar with the market that we spoke to estimates a total value somewhere near $27 mil.
Brown & Toland, with doctors, clinicians, and patients in San Francisco, Marin, San Mateo, Alameda and Contra Costa counties, will also maintain a satellite office in San Francisco. The relocation of the corporate office to the East Bay will unite Brown & Toland employees in Emeryville with those currently located in San Francisco, bringing most of the company’s employees together in one location.
The space will be custom-built to fit Brown & Toland’s needs. According to Richard Fish, Brown & Toland’s Chief Executive Officer, when looking for office space, accessibility to public transportation, major highways and a thriving downtown area were chief priorities.
Tim Hogan and John Dolby with DTZ's San Francisco and Oakland offices represented Brown & Toland in the lease transaction. Additionally, the company hired DTZ’s Project and Development Services team to provide tenant improvement work on its new customized space, an effort being led by Rick Coeur, LEED AP.
“This is the largest relocation of a tenant from San Francisco to downtown Oakland we have tracked, with Matson Navigation in 2003 (52k sf) and Koret of California in 1998 (51k sf) among the others,” said Dolby. “This new occupancy will bring Class A vacancy in downtown Oakland to below 8%, meanwhile Class B is less than 6%. With just one single block of space larger than 50k sf currently available, Oakland will need to build new inventory to attract other large tenants.”
Brown & Toland’s corporate headquarters has been located in the South of Market area (SoMa) in San Francisco since July 2003, and the organization also currently has employees at locations in Emeryville and Modesto.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
