Matson Navigation Leases 52,580 SF at 555 City Center

OAKLAND, CA-Matson Navigation Company has signed a 52,580-sf lease at 555 City Center in Downtown Oakland.

The 12-year, $18-million deal pushes occupancy in the 487,000-sf office building over 50% for the first time since its completion last year. The building is half owned by the State Teachers Retirement System of Ohio and half owned by a fund that includes San Francisco-based Shorenstein Co., which also manages the building.

Matson, a domestic ocean carrier, is relocating from 333 Market Street in San Francisco, a building in which Shorenstein also has an ownership interest. Matson’s new lease at 555 City Center commences January 2004. It will occupy all of the 7th and 8th floors at 555 City Center and a piece of the 9th floor.