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Clovis Oncology Leases 32,000 SF in Downtown Oakland

Biopharmaceutical Company Agrees to 10-Year Deal at City Center
November 29, 2017
Clovis Oncology (NYSE: CLVS) will expand its operations from San Francisco's Mission Bay to downtown Oakland after agreeing to a 10-year deal for 32,000 square feet at 1330 Broadway.

The biopharmaceutical company will occupy the ninth and 10th floors of the 18-story, 325,000-square-foot high-rise, which in recent months has seen Oracle and Arup each sign for 16,000 square feet in the tower. The building is now 85% leased.

Bay Area mixed-use property developer TMG Partners paid $80 million for the Class A asset in 2015 and subsequently carried out a value-add initiative - the company's first redevelopment in Oakland. The capital improvement plan introduced a new lobby and common areas, as well as building improvement upgrades and refurbished conference facilities.

According to Daniel Muehl, senior vice president of finance at Clovis Oncology, the property's location near a BART station was an important factor in the company's decision. 1330 Broadway is located at the 12th Street Oakland BART station and is directly served by AC Transit.

John Dolby and Dane Hooks of Cushman & Wakefield brokered the lease on behalf of TMG Partners, which also owns 2201 Broadway. Gregg Walker and Grant Yeatman of JLL represented Clovis Oncology.
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