Oakland Sublease and Relocation
The Client
National Council on Crime and Delinquency
(NCCD) now known as Evident Change is a non-profit that works to help protect children from abuse and neglect to create a safe and rehabilitative justice system for youth and adults, and to address the needs of older adults and adults with disabilities. They are headquartered in Madison WI with a west coast office in Oakland California.
Overview
1970 Broadway, Oakland, CA 94612
520 3RD Street, Oakland, CA 94607
Office
± 15,422 SF Total
Tenant Representation
Sublandlord Representation
THE CHALLENGE
NCCD had 14 months left on their lease at 1970 Broadway and occupied ±9,148 SF. The non-profit had considerably downsized their employee headcount and were only occupying about 2/3 of their space. NCCD was paying for space they did not need and were in a downtown Oakland office market that had significantly increased since they signed their original lease. NCCD needed to get out of their current lease, reduce their occupancy, lower their monthly rent obligation, and stay within Oakland close to their downtown location.
OUR APPROACH
We first contacted the landlord, The Fivey Company, at 1970 Broadway to negotiate a tenant buyout. We were not able to come to a favorable agreement for NCCD, so we agreed with The Fivey Company to put NCCD’s office space on the market for sublease. Simultaneously we worked with NCCD leadership, on budget, space planning, and location. We put together multiple availability reports, toured available and off market office spaces, identified three (3) spaces that fit, and submitted multiple offers to lease.
THE OUTCOME
Two months into the sublease being on the market we found a subtenant to lease the entire ±9,148 SF space for the remainder of the lease term. We worked with NCCD, the subtenant, and the Fivey Company to complete this transaction. During the sublease negotiation we identified and negotiated a new lease on an off-market office space in Jack London Square. The office space fit the new budget, layout, location, aesthetics, and proximity to Downtown Oakland. We subleased NCCD’s space in a timely matter, downsized their occupancy from ±9,148 SF to ±6,274 SF, signed a new long-term lease in a more efficient layout, lowered their monthly rent obligation by 15%, and stayed close to Downtown Oakland.
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