The lease includes 24,161-sg of office space at 555 City Center, which is part of the 3.5 million sf Oakland City Center. The Oakland City Center includes 18 restaurants and food outlets, more than a dozen retail shops and services, an athletic club and parking for 2,840 vehicles.
The Oakland-based advertising agency will relocate from its present location at 1901Harrison Street in Oakland to City Center in February 2003. The financial terms of the lease were not disclosed. The average asking rate in downtown Oakland for this type of space is in the $30 per sf range.
Rick Steffens of Grubb & Ellis negotiated the deal for Carol H. Williams Advertising, while John Dolby, vice president of leasing for Oakland City Center, represented Shorenstein Realty Services.
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