Dreyer's Scoops Up 3rd Floor of 555 City Center

OAKLAND, CA-Dreyer’s Grand Ice Cream Holdings Inc. has leased the 23,889-sf third floor of the 20-story, 473,000-sf 555 City Center building Downtown. The locally based company is consolidating its corporate functions following its recent combination with the Nestle Ice Cream Company LLC. The space at 555 City Center will be filled with Dreyer’s accounting department, which is currently located at the company’s corporate headquarters at 5929 College Ave. The seven-year lease commences in August. Approximately 110 employees will work at the company’s new City Center office. In addition to the Dreyer’s lease, Trial Lawyers for Public Justice has signed on for just over 3,000 sf on the building’s 16th floor for its West Coast offices. The five-year lease begins August 2004, when the not-for-profit attorney group will move from the Ordway Building at Lake Merritt in Oakland. 555 City Center is located directly above the 12th Street BART station, across the street from the Oakland Convention Center and two blocks from Interstate 580. The building is owned in part by San Francisco-based Shorenstein Co., which handles its management and leasing. The two new leases take the two-year-old building to 74% leased. John Dolby acted on behalf of Shorenstein Realty Services in both lease agreements. Sid Ewing and Sheldon Crandall with CB Richard Ellis’ Oakland office acted on behalf of Dreyer’s in the company’s lease transaction. Chris Johnke, also of CB Richard Ellis in Oakland, represented Trial Lawyers for Public Justice.The parties involved in the lease either could not be reached on Tuesday or declined comment on the negotiated lease rate. Local brokers familiar with the transactions tell GlobeSt.com that deals are now being signed in the building for around $30 per sf per year, full service, including a tenant improvement allowance of around $50 per sf. In January, Clear Channel Outdoor Inc. signed a 10-year lease for 10,854 sf on the building’s 9th floor. The outdoor advertising company moved its Northern California division headquarters from a Port of Oakland building on Maritime Street. The lease commenced March 1.