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Bank Renews 147,000-SF Lease at Namesake Building

OAKLAND, CA-World Savings Bank inks a 10-year lease for more than half of the 17-story building in the Lake Merritt submarket.

By Brian K. Miller | Updated on October 09, 2006

OAKLAND, CA-World Savings Bank has renewed its lease of 147,000 sf within its namesake office building at 1901 Harrison St. in Oakland’s Lake Merritt submarket. The building is owned by Brandywine Realty Trust as a result of its recent acquisition of Prentiss Properties Trust.

The new lease agreement is for a 10-year term and accounts for more than half of the rentable sf in the 17-story class A office building. There were no third-party brokers involved in the transaction, according to Brandywine.

The negotiated lease rate was not released by the parties involved and not otherwise immediately available. Last fall, prior to the merger, Prentiss Properties reported that expiring rents in the building were in the mid-teens per sf per year while new leasing activity was in the high teens.

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