X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE 2020Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.