Webroot Software Relocates in 47,000-SF Lease

SAN MATEO, CA-Webroot Software has signed a lease for 47,000 square feet of space at the Crossroads Office Complex at 1855 S. Grant St. in a relocation from Mountain View, according to brokers who negotiated the deal. The new Webroot space will be in a five-story building that formerly was the headquarters for Siebel Systems, which later grew to over 275,000 square feet at the Crossroads.

Sandy Rodriguez of CB Richard Ellis, who represented the building owner, notes that despite tough market conditions and a higher than usual vacancy rate, Webroot, represented by Peter Hamann of Cresa Partners, had to compete for the space. Signage and the potential to expand were key issues for Webroot, a growing company. Another tenant in the running lost out on the space but ended up signing a 21,500 square foot lease at another building in San Mateo.

Greg Osborn of Osborn Capital Management, the operating partner of the building ownership, notes that Osborn was looking for a company to make this building its local headquarters, so the new lease met the goals of both owner and tenant.

The Webroot lease was one of a number of new office and light industrial deals to close lately in Northern California, where Colliers International reports two recent leases at Barrington Business Park in Hayward. Unity Electronics, an electronics retailer, expanded and relocated its corporate headquarters to approximatel;y 9,600 square feet of office and light industrial space located at 2536-2538A Barrington Court, moving from a facility in Union City where it has been for more than eight years.

In the other lease, MAI Elevator Parts & Electric Supply relocated its Hayward facility to approximately 4,800 square feet at Barrington Business Park, which will serve as its sales and service center in the Bay Area.

In both of the deals, landlord Jaeger McHugh LLC was represented by Sean Sabarese, Joe Yamin, and Greig Lagomarsino of the Oakland office of Colliers International. Unity Electronics was represented by Shawn Klein with Cornish and Carey’s Hayward office; MAI Elevator was represented by Paul Mueller and Ryan Sitov, also with Cornish and Carey in Hayward.

Barrington Business Park is a class A, 203,000-square-foot light industrial park that can accommodate users from 2,400 square feet and up. Project owner and operator Jaeger McHugh is based in San Francisco.