SAN FRANCISCO-United Business Media LLA and Ogletree, Deakins, Nash, Smoak Stewart lease a total of 54,000 square feet of office space in downtown San Francisco. United Business Media will take occupancy of 36,620 square feet of space, located at 303 Second St., in January 2011. Ogletree, Deakins, Nash, Smoak & Stewart leased 17,590 square feet of space at One Market Plaza from PPF Paramount One Market Plaza Owner LP.
Grubb & Ellis Co.’s Jerry Igra, executive vice president of the tenant advisory group, represented both tenants. G&E tells GlobeSt.com that due to confidentiality agreements, it could not disclose further lease terms.
Headquartered in Manhasset, NY, United Business Media is a leading global business media company that will use the space to serve clients through its online, print and technology platforms. Igra represented United Business Media in conjunction with Richard Bernstein and Adam Ardise of Cassidy Turley New York Inc. Chris Roeder and Ted Davies of Jones Lang LaSalle Inc. represented the property’s owner, Kilroy Realty LP in the transaction.
Ogletree, Deakins, Nash, Smoak & Stewart caters to Fortune 500 companies will take occupancy in Oct. 1. Igra represented the law firm in conjunction with Kay Davis, senior vice president of Grubb & Ellis’ Atlanta office. Roeder, Wes Powell and Davies of JLL represented the owner of the property.
According to a recent Grubb & Ellis forecast, the downtown office market has stabilized and vacancy will begin to drop late in the year. “As the downtown market tightens, look for generous concession packages to begin to erode as rental rates slowly increase,” says the forecast. “For tenants, strong financials will help to secure better leasing terms, weak financials may mean taking space as-is or settling for a short-term deal.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
