OAKLAND, CA-A year and a half after Gap Inc. began negotiations, the popular clothing retailer has inked a deal with San Francisco-based ATC Partners LLC to lease 10,000-sf at 1333 Broadway to house its BabyGap and GapKids stores. The company, which already has a Gap store along Lakeshore Drive in Oakland, signed a six-year lease with options for up to 20 years. It plans to begin renovations this month and occupy the space by the end of summer 2001, says Tom Keane, a partner with ATC Partners, who declined to discuss specifics of the lease agreement or assign a value to it.

The space was formerly occupied by a Wells Fargo bank branch, which shut down two years ago. ATC Partners has been negotiating with the Gap since it purchased the 10-story, 240,000-sf building from the Keera Group for nearly $32 million last May. The Gap had been negotiating with Keera Group before the purchase, but talks began anew when ATC took control. Currently, Providian Financial is a major tenant in the building, which was built as class A office space in 1972. The building is adjacent to City Center, Oakland’s only retail cluster–which is owned by the Shorenstein Co.

Currently, Gap is the only national retailer in the nearby area save for Sears. However, other chains such as Abercrombie & Fitch, Petite Sophisticate, Foot Locker, The Limited, Victoria’s Secret and Gap Inc.’s own Old Navy are said to be seriously considering Oakland.

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