A Fresh Take on CRE

Bay Area Weekly Comp Digest: RocketFuel, SK Telecom, and NBS Design All Sign New Leases!

Every week, we compile a digest of some recent deals from the CompStak database. We hope you will find the information helpful.
   
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Oakland: Waypoint Homes Expands at 1999 Harrison Street

The single family, buy & hold, real estate investment and consultancy firm recently expanded its office lease in the class A, Lake Merritt Plaza building by just over 9,500 SQFT.  Waypoint agreed to pay rent starting in the high-$2.00s PSF with 3% escalations for the 2-year term, and will enjoy 1 month of free rent.
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Oakland:  Brand Strategy Services Firm Subleases at 1970 Broadway

Emotive Brand just agreed to sublease 5,300 SQFT of class B office space in the Tower Building from sublessor, Ella Baker.  Emotive agreed to may rent starting in the mid-$1.00s PSF for the 2-year, 7-month lease term, and was given 1 month of free rent.
   
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South San Francisco: Genentech Signs New Lease at 285 East Grand Ave

One of the largest and most prominent biotechnology firms, Genentech, recently signed a new lease for nearly 63,000 SQFT of class A research/development space with landlord, HCP Life Sciences Estates.  The company will pay rent starting around $2.75 PSF for the 10-year lease, and also agreed to $20 PSF in TIs.
   
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Redwood City: RocketFuel Signs New Lease at the Pacific Shores Center

The creator of a programmatic media-buying platform that helps to improve marketing ROI recently signed a new lease for 105,000 SQFT of office space at 1900 Seaport Boulevard.  RocketFuel agreed to rent starting around $3.25 PSF with 3% escalations for the 6-year lease term.
   
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Sunnyvale: SK Telecom Signs New Lease at 310 De Guigne Drive

A South Korean wireless telecommunications operator, SK Telecom, signed a new lease for nearly 35,000 SQFT of research & development space in the Arques Business Park earlier this month.  SK agreed to pay rent starting just below $2.00 PSF with 3% escalations to landlord Menlo Equities for the 7-year lease.
   
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Milpitas: NBS Design Signs at 1870 Milmont Drive

Contract management services provider, NBS Design, signed for just North of 7,000 SQFT of  research & development space in Dixon Landing Business Park.  NBS agreed to pay rent starting near $0.50 PSF for the nearly 5-year lease term.