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OAKLAND, CA-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that Cerexa, a biopharmaceutical company, is expanding and extending its lease for its headquarters at 2100 Franklin to a total of approximately 50,000 square feet.
Opened in early 2008, 2100 Franklin is a 217,000-square-foot LEED Gold certified, nine-story tower in the Lake Merritt district of Oakland. CIM brought Cerexa to the building in 2009 to occupy the entire 9th floor and half of the 8th floor. The new lease encompasses the remaining approximately 12,000 square feet on the 8th floor.
Earlier this year, Internet music provider Pandora leased approximately 25,000 square feet at 2100 Franklin to expand its headquarters, which includes approximately 50,000 square feet at CIM’s adjacent 2101 Webster St. office tower. The two buildings are connected at the lobby level.
As GlobeSt.com previously reported, CIM acquired 2100 Franklin as part of a five-building 1.7 million-square-foot portfolio of class A office properties in the Lake Merritt and City Center districts in October 2008. The company also owns and manages the Oakland Marriott City Center and Courtyard Marriott Oakland Downtown hotels.
CIM identified the greater Bay Area as possessing the attributes that fit its investment model, which focuses on established and emerging urban areas with solid infrastructure and transportation networks. In addition to Oakland, CIM Group has made investments in a variety of commercial properties in San Francisco and San Jose.