Perquest, a growing online payroll services company, is relocating from the 10th floor of 1333 Broadway, which is owned by CIM Group. At Dublin Corporate Center, its address will be 4160 Dublin Blvd.
Dublin Corporate Center is an 18.6-acre class-A office campus consisting of three four-story office buildings totaling 440,278 square feet. Brian Lagomarsino and Ted Helgans of Colliers International have the leasing assignment. Neither Tishman Speyer nor Lagomarsino was immediately available Tuesdsay morning for comment.
Colliers International tracks nine class A office buildings in Dublin totaling 1.5 million square feet. As of the end of the third quarter, vacancy was 21.6%, down 70 basis points from the prior quarter, and the average full-service asking rate was $1.80 per square foot per month. In Oakland, the average full-service asking rate for class A space is $2.75 per square foot, according to Cornish & Carey.
Located above a BART station, 1333 Broadway is part of a 1.7 million-sf, five-property Oakland office portfolio that an affiliate of CIM Group acquired from Brandywine Realty Trust in late 208 for $412.5 million. The buildings are located in the Lake Merritt and City Center districts. At the time, CIM assumed loans tied to three of the properties, one of them 1333 Broadway. Unless already refinanced, all three loans mature throughout 2010. The loan on 1333 Broadway, which totaled $23.88 million at the time of the sale, was scheduled to mature in May 2010. CIM Group referred a request for comment to a third party public relations specialist who was not immediately available Tuesday morning for comment.
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