MBH Architects leases 50,262 square feet for 10 years
Oakland,
CA – September, 2006 – MBH Architects has executed a lease for 50,262
square feet of office space at 2470 Mariner Square Loop in Legacy Partners
“Alameda Center” Office Park in Northern Alameda, next to Marina Village.
Michael Harrison and Mike Raffetto of CB Richard Ellis represented MBH
in the transaction.
Harrison and Raffetto worked directly with Legacy Partners who purchased both Marina Village and the Alameda Center in April earlier this year. The Alameda acquisitions bring Legacy’s total Bay Area portfolio to 12.5 million square feet. “This transaction would not have happened without the attentiveness and deal making approach of Stacy McClaughry and Steve Dunn with Legacy Partners. “All parties are pleased with the outcome of this negotiation,” said Michael Harrison of CB Richard Ellis.
2470 Mariner Square Loop was the ideal location for MBH who needed a building that could accommodate up to 200 employees. The Greater Oakland market has few options in which a tenant can lease 50,000 square feet of contiguous space. MBH considered alternatives in nearby cities and in the end chose to stay in Alameda due to its low business taxes, abundant free parking, and relatively affordable lease rates. The lease is for 10 years and commences February 1, 2007. Financial terms of the lease were not disclosed.
MBH is the largest architectural firm in the East Bay whose clients include Target Corporation, Apple Computers, Gap, the Limited Brands, P.F. Chang’s China Bistro, Yard House, the Hilton Corporation, Marriott, Trammel Crow, Codding Enterprises, St. James Properties, John Laing Homes, Toll Brothers, Signature Properties, Simon Properties, and General Growth Properties amongst many others.
About CB Richard Ellis:
CB Richard Ellis (NYSE:CBG), a FORTUNE 1000 company headquartered in
Los Angeles, is the world's leading commercial real estate services
firm (in terms of 2005 revenue). The company serves real estate owners,
investors and occupiers around the world through more than 300 offices
(including partners and affiliates) in over 50 countries. CB Richard
Ellis delivers to clients superior strategic advice and execution for
property leasing and sales; property, facilities and project management;
corporate services; debt and equity financing; investment management;
valuation and appraisal; research and investment strategy; and consulting.
Founded in 1906, CB Richard Ellis marks a century of excellence in client
service this year. Please visit our Web site at www.cbre.com.
MBH Architects, is a diversified and multi-faceted practice, established
in 1989 and employing 200 professionals with offices in Alameda and
Newport Beach, California. As a comprehensive and service-oriented architectural
firm, MBH embodies Design Excellence from the inception of the project
through to its successful completion. The firm has designed and completed
a wide range of diverse projects in the housing, hospitality, retail,
restaurant, mixed use and planning industries. "It’s
our people who make great places." ®