Oakland Lands Blue Shield Headquarters and 1,200 Workers

by George Avalos   OAKLAND — Blue Shield of California has agreed to move its headquarters and 1,200 workers to Oakland, the nonprofit health plan said Wednesday, a move that will help it escape fast-rising office rents at its current location in San Francisco. Blue Shield’s move represents the largest relocation of an office tenant from San Francisco to Oakland in at least 30 years. The health care company will move to the City Center complex in downtown Oakland. “This is huge for Oakland,” Mayor Libby Schaaf said Wednesday in an interview with this newspaper. “It’s an amazing time for Oakland. We are seeing unprecedented levels of revitalization and investment in Oakland.” The health care company is leasing a third of the space in the 600,000-square-foot, 24-story 601 City Center building. The office tower is being developed by a joint venture of Shorenstein Realty Services and MetLife. “After extensive evaluation, we believe [...]

2017-03-09T13:13:00+00:00 March 9th, 2017|Categories: In the News|Tags: , , , , , |0 Comments

Social Stratosphere Update: In the News – September, 2015

By Mike Kirner Happy 161st Birthday, Oscar October 16th was the birthday of my favorite Victorian poet, dramatist and playwright, Oscar Wilde. If you've never heard of him, he was alive and making news headlines long before Trump, Tom Brady, Mark Zuckerberg, Jayzee, most of the Kardashians ....or even Hillary Clinton. I'm pretty sure he rarely used Facebook, text messaging and he secretly loathed social platforms like LinkedIn and twitter. Back then, requesting an Uber ride meant telling your butler to fetch a horse and carriage. Believe it or not, trendy and collaborative commercial real estate professionals like us used to write each other handwritten notes instead of blogging or blasting out email blasts like this. Oscar Fingal O'Flahertie Wills Wilde (16 October 1854 – 30 November 1900) was an Irish author, dramatist and extremely popular playwright.  After writing in different forms throughout the 1880s, he became one of London's most [...]

MARKETBEAT Office Snapshot Q3 2015, San Francisco

by Derek Daniels Bandwidth of Tech Boom Powers SF Market Employment in San Francisco and the greater metropolitan division (San Francisco and San Mateo counties) continued to break records in Q3 2015. Non-office sectors have certainly been on the rise, with leisure & hospitality up 5.2% and construction and manufacturing up 4.8%. The real driver of the recent jobs boom, however, has been technology jobs, with computer systems design & related services (CSD) adding 12,200 positions or 20.9% year-over-year. In fact, CSD (70,500 positions) should overtake all of financial services (73,500 positions) in total job count by early 2016. Asking Rents Jump 5.2% The overall average asking rent for San Francisco jumped 5.2% in Q3 to close at a record high of $66.71 per square foot (psf), bypassing the previous record of $66.00 psf in Q4 2000. East SOMA took the crown for submarket with the highest asking rent [...]

C&W Northern California In the News – June, 2015

Contained herein is a collection of news media mentions for Cushman & Wakefield's Northern California region. Stories include transactions secured by several of our brokers and updates on new projects.  The media also frequently publishes data that our team has provided via research reports. June news stories featured  George Eckard, Grant Lammersen, Jeff Cushman, Mark Andersen, Kris Kolmbach, David Scanlon, Kevin Lynch, Elaine Sahlins (Welcome to our Team, Elaine!), Ron Thomas, Reza Musavi, Dave Young and Bob Kraynak. Blog comments included remarks from Laura Duffy, Diana Harms, Victoria Garcia, Pei Hua Wang, Michelle Reyes and Stefanie Hasten.          Buchanan Street Partners Spends $25 Million on Marin Office Property rentv.com, June 30 Buchanan Street Partners has acquired Rowland Plaza, a 143.4k sf office project in the Marin County city of Novato. The property was sold by a joint venture between Barker Pacific Group and Rockwood Capital for $24.9 mil ($174/sf). Grant Lammersen and George [...]

“Eclectic Gem Property” Available in Oakland

  Eclectic Gem Property: An Architect's Dream Come True Several times a year, cushwakesanfranciso features an eclectic, interesting property ideally suited for a unique type of use. This month, 1433 Webster in Oakland, CA is the featured building. According to Associate Director Bart Damner of Cushman & Wakefield's San Francisco office, "Every once in a while you see a property or building that is a perfect fit for a very particular type of client. From the outside, it's clearly not the world's most beautiful building. However, the potential to convert this former parking garage into a vibrant, modern architect's or engineers office is clearly evident." Executive Director Ryan Hattersley of C&W's Oakland office also speaks enthusiastically about this property: "This Building has great potential and is ideally suited for a creative/open plan user that will take advantage of the high ceilings and let the light from the front of the building and skylights flow [...]

C&W Sponsors Spirited Mayors’ Conference in Oakland, CA

Jim Gardner, Managing Editor of the SF Business Times poses questions to Mayors' Ed Lee and Libby Schaaf. Photos courtesy of SF Biztimes STATE OF THE CITIES: Mayors' Economic Forecast in Oakland, CA by Mike Kirner Senior Marketing Associate Northern California Cushman & Wakefield San Francisco was a premier sponsor of a much anticipated annual event last Thursday, February 19th. Presented and coordinated by the San Francisco Business Times, The Mayors' Economic Forecast Summit convened inside the Oakland Convention Center. Seated around a sea of white, skirted and round table tops, a large gathering of business professionals enjoyed a hearty breakfast with coffee. At 8:00 a.m sharp, Mary Huss, Publisher of The Business Times welcomed the attendees and introduced the first speaker: C&W's Executive Director John McManus. Real Estate Forecast McManus gave a ten minute presentation on the local real estate forecast and began with comparing today's Bay Area [...]