OAKLAND, Calif.--(BUSINESS WIRE)--CIM Group announced today that Cerexa, a leading biopharmaceutical company, is expanding and extending its lease for its headquarters at 2100 Franklin to a total of approximately 50,000 square feet.
Opened in early 2008, 2100 Franklin is a 217,000-square-foot LEED Gold certified, nine-story tower in the Lake Merritt district of Oakland. CIM brought Cerexa to the building in 2009 to occupy the entire 9th floor and half of the 8th floor. The new lease encompasses the remaining approximately 12,000 square feet on the 8th floor.
Earlier this year, Internet music provider Pandora leased approximately 25,000 square feet at 2100 Franklin to expand its headquarters, which includes approximately 50,000 square feet at CIM’s adjacent 2101 Webster St. office tower. The two buildings are connected at the lobby level.
CIM acquired 2100 Franklin as part of a five-building 1.7 million-square-foot portfolio of Class A office properties in the Lake Merritt and City Center districts in October 2008. The company also owns and manages the Oakland Marriott City Center and Courtyard Marriott Oakland Downtown hotels.
CIM identified the greater Bay Area as possessing the attributes that fit its investment model, which focuses on established and emerging urban areas with solid infrastructure and transportation networks. In addition to Oakland, CIM Group has made investments in a variety of commercial properties in San Francisco and San Jose.
About CIM Group
CIM Group is a leading real estate and infrastructure investment firm that since 1994 has systematically and successfully invested in dynamic and densely populated communities throughout North America. CIM Group draws on its experienced team of real estate, investment and finance professionals to identify and pursue investment opportunities in three primary strategic categories: repositioning and development projects in established and emerging urban areas; well-positioned operating properties in transitional and established districts; and infrastructure. CIM manages three distinct portfolios, including opportunistic, stabilized and infrastructure funds, each of which are diversified by geography and type of property within that risk profile. Headquartered in Los Angeles, CIM maintains regional offices in New York, the San Francisco Bay Area and Bethesda, Maryland. For more information, please visit www.cimgroup.com