Managing director Keith Mackenzie tells GlobeSt he will move his staff of six in June to a larger, 5,500-sf office on the 6th floor at the Lake Merritt Plaza Building to make room for up to 24 more people by the end of the year. The first wave of new employees arrives in June on an international flight. Six brokers from England are coming for an extended stay. The team will augment the office's market research department and pound the pavement for deals with senior level brokers.

MacKenzie says the office is expanding its focus in the areas of buying and selling investment grade properties and leasing office, industrial and warehouse in the Oakland area. It is possible, he adds, that the firm will also add a retail expert once research has established the market.

MacKenzie is doing all this because he says growth is likely by the end of the year, and it will "start happening in Oakland before it will happen in San Francisco." Compared to San Francisco, says Mackenzie, who estimates the office vacancy rate in Oakland at about 8%, which translates to with a total of from 10 to 20 million sf available. Rents for Class A office space is at about $48 per ft and for Class B about $30 to $36 per ft.