The seven-year deal was signed with a beginning monthly rent of $3 per sf, full service, with bi-annual increases of 3.5%. Sid Ewing and Sheldon Crandall of CB Richard Ellis negotiated the terms of the deal. Versata, an ebusiness automation company, intends to hold on to its remaining 75,000 SF of space.
Side Ewing told GlobeSt.com that the University of California was attracted to the space by its excellent location, dramatic views of the Bay, Lake Merritt and of San Francisco. "The building has just been renovated by Versata and includes brand new carpeting and appliances," said Ewing. "It's just a fantastic space."
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