Many San Francisco Commercial Tenants are Planning to Relocate All But Executives to Oakland

Delta Dental is the latest large San Francisco tenant to ink a deal to lease office space in downtown Oakland to relocate employees across the Bay. Other big tenants that are also planning to or have already done so are Blue Shield, WeWork, Oracle and global engineering firm Arup. The reason given is to give their employees the option to work in Oakland, while maintaining a small executive presence in San Francisco.

Thus demand for office space in Oakland is high, with vacancy rates hitting 3.8 percent in the second quarter of 2017 at a cost of $57 per square foot. Demand from prospective tenants during the same timeframe is at about 1.7 million square feet, with tech companies contributing around 30 percent of the demand for the space.

Delta Dental is planning to lease 82,000 square feet at an office tower owned by CIM Group which is situated directly above the 12th Street BART Station. About 600 employees currently work at the 100 First Street San Francisco headquarters, and it is not known how many employees it will relocate to Oakland. Previous to Delta Dental’s decision, Blue Shield signed a lease for 200,000 square feet at 601 City Center. Arup recently leased space in the 1330 Broadway tower, currently being renovated by TMG Partners. WeWork has leased 75,000 square feet at 1111 Broadway, the shared workspace provider’s first Oakland location. Offered for sale at $4,195,000 or lease at $12,000 per month is the Charles MacGregor Masterpiece in Premier Piedmont location at 622 Highland Avenue.

About Anian Tunney

Anian Tunney is an agent broker with The Grubb Company. According to statistics collected by East Bay Regional Data, Inc., she was the 2014 number one real estate agent in Piedmont, CA for the number of units sold and sales volume. In 2014 she was The Grubb Company company-wide top producer. Additionally, Tunney has been number 1 in yearly real estate sales for The Grubb Company’s Piedmont office for the last 8 years. Anian was also ranked 129th in the Nation by REAL Trends the Thousand in July 2015. She is known for her knowledge, experience, and network in the Piedmont community; qualities which are invaluable for finding that special home or buyers for her clients.

A fifth generation Piedmont resident, Tunney has been with the Grubb Company for over 30 years. She raised her family of four in Piedmont and is active in community projects such as the Piedmont Beautification Foundation, the East Bay Museum Auxiliary, and the Piedmont school district. Her grandmother, Amy Sutton, was a real estate agent, and now Anian works with her daughter Adrienne Krumins, making Piedmont Realty truly a family vocation. Tunney negotiates with grace and clarity of purpose. She can be contacted at 510-339-0400 ext 217, and at tunney(at)grubbco(dot)com. Her website is www.aniantunney.com.

Contact Information

Anian Tunney, Piedmont CA real estate agent broker associate
The Grubb Company Real Estate Brokers
Oakland, CA 94611
510-339-0400 ext 217
tunney(at)grubbco(dot)com
www.aniantunney.com
www.aniantunney.com/blog

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