Downtown Oakland has landed two high-profile health-related tenants: Brown & Toland Physicians, and The California Institute for Regenerative Medicine.
Brown & Toland signed a 60,000-square-foot lease at the Clorox Building in the City Center Complex, 1221 Broadway, near 12th Street. The state’s stem-cell institute is leasing 17,000 square feet at 1999 Harrison Street, near Lake Merritt.
Brown & Toland, which was represented by DTZ, is relocating its headquarters from San Francisco’s SoMa neighborhood. The healthcare company is custom-building its space, which DTZ will also oversee. The new lease will reportedly bring class A vacancies down to eight percent in Downtown Oakland, while class B vacancies are at a mere six percent.
Downtown Oakland has boomed in recent years with an influx of office tenants, residents, merchants, and most notably, new restaurants, and entertainment outlets.