The historic Tribune Tower in Downtown Oakland has secured a significant win with a new lease agreement. Regus, a Texas-based unit of IWG, will manage 17,600 square feet of flexible workspaces on three floors, with the option to expand by an additional 22,400 square feet. This arrangement is a valuable opportunity for the building's owner, Highbridge Equity Partners, as Regus is known for attracting major corporations, startups, creative companies, and individuals seeking flexible workspaces and networking opportunities.

Summary of transaction details

• Property Type: Office
• Transaction Amount: N/A
• Address: 409 13th Street, Downtown Oakland
• Market: Downtown Oakland
• Landlord: Highbridge Equity Partners - Douglas Abrams
• Tenant: Regus
• Brokers: Joe McGlynn, Cody Kollmann & Jeff Moeller - Lee & Associates
• Asking Rent: $3.25/ft.
• Size: 40,000 square feet
• Lease Terms: 10-year lease

In this deal, Regus will occupy a significant portion of the Tribune Tower, bringing their expertise in providing flexible working spaces to the downtown area. The building's prime location and historical significance make it an attractive option for businesses of all sizes. This lease agreement demonstrates the continued growth and demand for flexible workspaces in the Downtown Oakland market, and highlights the confidence that Highbridge Equity Partners has in this iconic property.