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OAKLAND, CA-Healthcare Financial Solutions has signed a 10-year lease for a full floor in the 505 14th St. office building, which is part of Shorenstein Co.’s five-building 3.5-million-sf Oakland City Center portfolio. The 60-employee healthcare consultancy will move to the 14,792-sf 5th floor of the Downtown class A office building in March from the nearby Ratto Building, a older Victorian-style building at 825 Washington St.

Healthcare Financial Solutions co-founder and SVP Steve Rousso says the City Center location provides room for the company to grow as well as a central location at a good value. “The majority of our employees live in the East Bay,” he says. “Oakland City Center is extremely convenient for our staff and clients, especially with our easy access to BART.”

The 505 14th St. building is located directly above the 12th Street BART station and two blocks from Interstate 580. Completed in 1985, it has 12 stories and 170,000 sf of rentable space. Very little space is actually available. With this latest lease, Shorenstein’s website is showing 4,900 sf available on the 6th floor.

The website shows no asking rate for the building and the brokers involved in the transaction declined to provide the negotiated rate, but other local brokers tell GlobeSt.com deals for that type of space are being done in the low $20s per sf per year, full-service. They add that recent concession packages by building owners have included an above-standard tenant improvement allowance or, if the space is already nicely improved, the dollars could be sifted to free rent or a lower base rental rate.

Mark Hutchinson and Cody Winchester of Arroyo & Coates in San Francisco represented Healthcare Financial Solutions in the transaction. John Dolby vice president in charge of leasing for Oakland City Center, represented San Francisco-based Shorenstein.

Hutchinson tells GlobeSt.com that Healthcare Financial Solutions’ new space will be more efficient and more private than its current space. The new space only needs new paint and carpet, as it was built out for a previous tenant and the configuration will work well for his client. “They wanted to take advantage of the market and upgrade their facilities,” he says. “They wanted a quality, class A-type office environment.”

Founded in 1991, Healthcare Financial Solutions is a diversified healthcare consulting firm with a satellite office in San Diego. The company offers financial, clinical, operations, information management, staffing and other services to the healthcare industry.

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