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

Uber Shakes Up Oakland With Massive Purchase of Former Sears Building

  By Cory Weinberg Reporter Uber Technologies Inc. will open a large office in Oakland, taking all of the workspace in the refurbished Sears building that will open in two years, according to a source with knowledge of the deal. The deal gives Uber all 330,000 square feet of the building. Uber made the deal official Wednesday morning, announcing it bought the building from Lane Partners, the building's owner, for an undisclosed price. For Oakland, the deal may ignite a real estate market that hasn’t seen a new office building built in over a decade and hasn’t gotten a bite of the region’s huge growth in $1 billion technology companies. It could also give investors more confidence to finance the construction of thousands of residential units that developers want to build. “Oakland just changed. Wow,” Chris Foley, a land broker in San Francisco and Oakland for Polaris Pacific, said when reached by [...]