The software company's new offices will be located on the 14th floor of 555 City Center, which features views of San Francisco, the San Francisco Bay and the Oakland estuary and surrounding hills. Terms of lease were not released by the parties involved and were not otherwise immediately available. The average rate for the area is $3 per sf, full service. New space such as City Center would be higher.

555 City Center is 21 stories tall and encompasses a total of 487,000 rentable sf. The building occupies the block bounded by 11th, 12th, Clay and Jefferson Streets. Franz Inc. CEO Fritz Kunze says that several factors determined the company's move to Oakland. "The building is beautiful, value for money was an important factor, and even more so was the location of the building and its accessibility via mass transit," Kunze says. "We look forward to being part of the new up-and-coming neighborhood of City Center in Oakland."

John Dolby, marketing manager for Oakland City Center, handled the lease for Shorenstein. Peter Schubert of Schubert Investments, a firm specializing in tenant representation and corporate consulting, represented Franz Inc.