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Sublease Shows Weary Market

PLEASANTON, CA-Pleasanton's office market does not appear to be improving this quarter, as evidenced by a recent sublease agreement that was negotiated at about 40% less than 2002's year-end average rate.

By Michelle Savage | Updated on March 19, 2003

PLEASANTON, CA-GoBeam Inc., an East Bay technology company, has inked a 32-month sublease agreement in Pleasanton for approximately 40% less than the average rate at the end of 2002.

Go Beam, which provides services that allow businesses to send voice and video signals over data networks, subleased 18,057-sf of class A space at 5050 Hopyard for about $1.20 per sf per month. CB Richard Ellis’ fourth quarter 2002 report stated that the average monthly rate for office space in Pleasanton was $2.05 per sf.

According to Colliers International, the company signed the sublease with ADC Communications. Mike Copeland of Colliers represented GoBeam in the transaction. Gregg Hall of Cress Partners represented the sublandlord, ADC Communications. The master landlord is Chawin Properties.

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