Highbridge, Regus and Lee & Associates all believe the deal has the potential to attract a variety of new companies to the building and the area. “As the market for big spaces is in a lull, creative co-working providers like Regus are thinking long-term and doubling down.” “Leasing velocity is slow for big spaces,” Kollmann said. Regus aims to tap into corporate America’s quest for more flexible workplace arrangements. The coronavirus unleashed seismic shifts in how companies viewed their office space needs. The building also has ground-floor amenities such as the popular Tribune restaurant and Modern Coffee cafe. If you just need office apps like Excel, you should use the WorkSpace bundle with Office pre installed (not free) 4. “Regus really wanted to be in downtown Oakland and near a BART station,” Abrams said. The company signed a 10-year deal for space in the Tribune Tower. Occupants could begin moving into the spaces starting this summer now that Regus has launched interior improvements in the workspaces. In a gentrified Bay Area, the former ‘Rottenest City’ fights to preserve its history “They are looking for good opportunities for space throughout the Bay Area.”Īs part of the agreement, Regus also obtained an option to expand by another 22,400 square feet, which would enable Regus to have a total footprint of 40,000 square feet in the Tribune Tower. “IWG and Regus are looking for core markets that can offer spaces to occupiers that seek creative solutions to their workspaces,” said Kollmann, a founding principal executive with Lee & Associates San Francisco.
Regus, which is one of the brand names of Switzerland-based IWG, a provider of workspaces worldwide, signed an agreement to manage 17,600 square feet on floors six, seven and nine of the Tribune Tower at 409 13th Street. Kollmann represented Regus in the deal while Moeller and McGlynn represented Highbridge. The deal, which provides a major boost to downtown Oakland’s office market, was arranged by brokers Cody Kollmann and Jeff Moeller of Lee & Associates San Francisco and by Joe McGlynn of Lee & Associates Oakland. The building is owned by Highbridge Equity Partners, Alameda County property records show. Regus, the largest provider of flexible workspaces for tenants, has signed a management agreement to seek and sign up tenants for three floors in the Tribune Tower at 13th Street and Franklin Street, according to Lee & Associates, a commercial real estate firm. OAKLAND - A company that specializes in crafting big workspaces and creative offices has reached a deal to manage multiple floors and bring new tenants to downtown Oakland’s iconic Tribune Tower building in an agreement that’s poised to bolster the local economy.
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