Real Estate Deals of the Year: WeWork Lease in Oakland

News & Awards.

TMG Partners has won awards for many projects
including honors for “Best Mixed Use,”
“Best Office,” and “Best Historic Rehabilitation”.

March 27, 2019
San Francisco Business Times
Real Estate Deals of the Year: WeWork Lease in Oakland

Why it won:

TMG Partners spent $14 million transforming the Breuner Building at 2201 Broadway in Oakland, and WeWork wanted in. The co-working company signed up for 68,000 square feet last October in one of the East Bay’s biggest recent office leases, rewarding TMG’s $65 million 2016 purchase of the 198,000-square-foot building. 

“With large floor plates and high ceilings, the property is ideally suited for creative, technology and other startup tenants – not to mention our location within two blocks of BART, Lake Merritt and a myriad of restaurants and entertainment venues,” TMG Partners Director of Development David Cropper said in a statement. 

WeWork’s deal was one of Oakland’s largest office leases of the year and will draw up to 1,100 people to the co-working space and surrounding Uptown Oakland neighborhood. Uptown Oakland has enjoyed a revival in recent years, sprouting dozens of new shops, restaurants and performance venues. 

The developer enlisted Studio O+A for renovation of the nearly 90-year-old building, which formerly held Breuner’s Home Furnishings. WeWork joins several other tenants like Fehr & Peers and UCSF Benioff Children’s Hospitals Foundation setting up shop in the Art Deco building, now reportedly back on the market by TMG with estimates it could sell for as much as $99 million, or $500 per square foot.

WeWork Lease at 2201 Broadway

Address: Breuner Building, 2201 Broadway, Oakland

Size: 68,000 square feet

Tenant: WeWork

Landlord: TMG Partners

Tenant’s broker: Steve Barker of Savills  

Landlord’s brokers: John Dolby and Dane Hooks of Cushman and Wakefield

Law firm: Coblentz Patch Duffy & Bass LLP


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