Godfrey Q, which caters to technology companies, counts among its clients Symantec Corp., Dolby Laboratories and Cisco Systems. Godfrey Q's broker, Marc Trovato of Cornish & Carey Commercial, tells GlobeSt.com the firm might have expanded within 153 Kearny but the owner was considering a residential conversion and wanted the circa 1909 building vacant just in case.
Godfrey Q managing partner Patrick Godfrey tells GlobeSt.com he looked at "dozens and dozens" of buildings. By the time it was clear they wouldn't be able to stay in the building, they had to move quickly to secure new space. As a result, the finishing touches on the tenant improvements won't be completed until after they relocate, he says.
The ninth floor at 100 California has high ceilings, city views and partial water views. The space comes with 16 offices, kitchen and a large conference room, but the floors, electrical and ceiling had been ripped out. The tenant improvement allowance will cover the cost of finishing the space, Trovato says.
Trovato declined to confirm the lease rate on the deal, which local industry sources say ended up in the mid $40s per sf on a full-service basis. John Cecconi and Charlie Withers with CAC Group represented then building owner Beacon Capital Partners of Boston. As part of a portfolio sale, Beacon recently sold 100 California and several other assets to Broadway Partners of New York City. Broadway recently tapped Chris Roeder of Jones Lang LaSalle to handling leasing of the building.
At the time of sale, 100 California was approximately 20% vacant. The Godfrey lease cuts that by about 40%. Neither Cecconi nor Roeder could be reached Wednesday for comment.
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