Wendel, Rosen, Black & Dean LLP serves clients nationwide in transactional and litigation matters. The 50-attorney law firm has occupied space in the building for more than a decade.
To seal the new deal, Shorenstein tore up the existing lease agreement, which ran through June of 2004, and lowered the law firm's rental rate. The parties involved are not releasing the negotiated rate, but the current full-service market rate for class A space in Downtown Oakland is about $28 per sf per year.
Part of Shorenstein Realty's Oakland City Center development, 111 Broadway is a 560,000-sf building completed in 1990. It serves as world headquarters for American President Lines, which leases one-third of the building. When Wendel, Rosen, Black & Dean expands onto the 19th floor in January, it will be the second largest tenant in the building.
Howard Lind, managing partner of the firm, says Wendel, Rosen, Black & Dean LLP has been located in Downtown Oakland since the company was founded in 1909. "We're committed to staying in Oakland and find its central Bay Area location is appreciated by our clients and our employees," says Lind, who represented the firm in its lease negotiations.
Lind was assisted in the lease negotiations by Scott Stone and Terry McGrath of Aegis. John Dolby handled the transaction for Shorenstein Realty Services. There is only one space currently available for lease at 1111 Broadway, a 6,000-sf corner office on the 21st floor, overlooking the intersection of Broadway and 11th Street. The annualized full-service asking range for the space $28-$30 per sf.
Shorenstein's Oakland City Center properties encompass more than 3.5 million sf of office space and includes 18 restaurants and food outlets, more than a dozen retail shops and services, a complete athletic club and parking for 2,840 vehicles.
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