A Fresh Take on CRE

Bay Area Weekly Comp Digest: Waypoint Homes Expands, Genentech Signs New Lease, and More!

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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.