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OAKLAND, CA-Newscale, a shared services management company, has subleased 24,000 sf of office space from Versata, a software company, for the remaining three years on the master lease.

Newscale will occupy the 13th floor of the Kaiser building, located at 300 Lakeside Dr., as soon as Versata vacates the space. Versata leased approximately 100,000 sf of class A office space in the building last May, and is now unloading some of it to accommodate its downsizing.

Sid Ewing of CB Richard Ellis represented Versata in the deal and Scott Stone of Aegus represented the tenant. The deal was negotiated at $3 per sf, monthly, full service.

Ewing told GlobeSt.com that the space is in a fully upgraded building located in Oakland’s Central Business District, an area considered to be a rapidly growing commercial development.

“It’s really a fantastic building,” says Ewing. “And the tenant has the flexibility to completely create the space for its own use.”

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