Bisnow just learned the S.F.-based environmental group wanted a new home in Oakland, but was beaten out by a healthcare organization that swooped in and took the space.
Its lease at its 85 2nd St HQ is up soon, and Bisnow sources say the firm wanted to downsize from its existing 50k SF to 40k SF. Sierra set its sights on Oakland, targeting two floors at 1221 Broadway. Sierra is one of many companies that want to migrate across the bay in search of cheaper rents (its renewal rate at 85 is reportedly in the $50s/SF, while Oakland's 1221 was in the $40s/SF). Founded by legendary conservationist John Muir in 1892, Sierra now has 2,400,000 members and 64 local chapters nationwide.
It appears a deal was close but Brown & Toland, a physicians group currently based at 153 Townsend near AT&T Park, just took 60k SF across three floors inside Westcore's 1221, aka the Clorox Building. Studley's Steve Barker, who reps Sierra, didn't respond to a request for comment. Sources say the property is uber popular, partially due to its big floor plates and position right atop BART. (Renewable Funding recently signed a 20k SF deal there.)
Minutes ago we chatted with Westcore VP of asset management Victoria Grether, who tells Bisnow: “While we are unable to name any incoming tenants specifically, we can confirm that we had multiple parties competing for the same spaces and ultimately had to turn two potential tenants away." Companies planning to move into Downtown/Uptown Oakland or expand their presence executed leases for more than 156k SF in Q2, according to local brokers. Lots of those are companies relocating from S.F., including Women’s Foundation of California, 21 Tech and Otis McAllister.
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