Central Building’s Leasing Quest Incorporates Safe Management Practices

OAKLAND, CA—Built in 1926 as Oakland’s first skyscraper, the 16-story Beaux Arts-style office tower, Central Building at 436 14th St., has been an East Bay fixture for nearly a century. Transwestern Real Estate Services has been selected by Jordan Real Estate Investments to provide property management services as well as leasing of the building’s office space.

The locally based owner has tasked Transwestern with bringing the building’s legacy into the present, allowing the 136,769-square-foot icon to remain both community focused and relevant to tenants in the competitive Bay Area market.

“We are highly committed to retaining the charming historical feeling of the building throughout upgrades such as the upcoming elevator modernization,” said Hayley Crickmore, Transwestern property manager. “As we look forward to when all shelter-in-place mandates can be lifted, we have developed a comprehensive plan to help our tenants return to the office safely and smoothly.”

Crickmore, who has managed the property for the past two years, joined Transwestern to continue overseeing the project with expanded resources from Blake Peterson, head of Transwestern’s asset services for Northern California and the Pacific Northwest.

“Transwestern transitioned more than 40 Northern California assets into our management platform in the past 18 months,” said Peterson. “With the on-boarding of the Central Building complicated by the COVID-19 pandemic and shelter-in-place order, it allowed Transwestern to immediately provide guidance and add value as owners and tenants are leaning on property management more than ever.”

As Alameda County remains on the California watchlist, which recently delayed the opening of nonessential offices, the future of office leasing is the topic of much conversation in the commercial real estate industry. In preparation for tenants returning to the office, Transwestern developed a Workplace Readiness Workbook, a guide for all property managers, engineers, security and facilities staff with recommendations for social distancing measures in common areas such as designating one-way traffic, reconfiguring lounge and waiting areas, and proper use of personal protection equipment. The plan can be customized to fit each property’s needs and take into account any inherent advantages, namely, the Central Building’s operable windows which allow healthy air circulation.

Transwestern’s second quarter 2020 East Bay office report notes that despite a severe drop in leasing activity in the quarter, demand for office space in downtown Oakland is expected to remain high long term.

In the case of 436 14th St., the building is home to several nonprofits, many of which have continued on-site work as essential services, especially necessary in times of crisis. Overall, the property is well-positioned to handle different economic cycles due to its location, pricing and the ability to accommodate tenants of all sizes, including those looking for smaller footprints as a result of the pandemic.

“The suites as-is are ideal for nonprofits, small law firms or other professional services,” Victor Valenzuela, Transwestern vice president, tells GlobeSt.com. “The building also has a few upgraded brick-and-timber suites that would be well-suited for tech tenants after some improvements.”