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Law Firm Expands at Embarcadero Place

PALO ALTO, CA-Carr & Ferrell LLP expands its lease in the four-building, low-rise office development here to 35,086 sf to accommodate growth in its intellectual property and corporate practice groups.

By Brian K. Miller | Updated on January 30, 2005

PALO ALTO, CA-The law firm Carr & Ferrell LLP has expanded its lease commitment at Embarcadero Place to 35,086 sf. The specialist in technology law initially leased 24,000 sf of space at the property last year. The firm will use the additional space to accommodate expected growth within its intellectual property and corporate practice groups.Embarcadero Place is an 11-acre, master-planned office property consisting of four two-story office buildings totaling 192,00 sf that were completed in 1984. The property is located near the 101 freeway. Carr & Ferrell is located in Embarcadero Place II (2200 Geng Rd). The law firm’s broker in the transaction, Steve Levere of Staubach Co. tells GlobeSt.com the lease for the additional space will be co-terminus with its original lease, which was for seven years. A law firm representative did not return a phone call seeking comment. Firm co-founder Barry Carr says in a prepared statement that “as Equity Office’s largest tenant at Embarcadero Place, we have the flexibility we need to facilitate that growth of our business while remaining at the same location.” Annualized triple-net asking rates at Embarcadero Place are in the mid-teens, but local brokers say EOP has been doing deals in the low teens as it seeks to raise occupancy at the complex. Dick Scott, EOP’s VP of leasing for the San Jose Region says the 192,000-sf complex was just 30% leased at the end of 2003 and now is up to 71% leased. “The Silicon Valley’s small business sector continues to experience growth and that’s helping drive the economic recovery,” he says in a prepared statement.

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