OAKLAND, CA—The biopharmaceutical firm Cerexa has agreed to expand its headquarters lease at 2100 Franklin to 50,000 sq. ft.
CIM Group acquired the 217,000-sq.ft. building, located in the Lake Merritt district, in 2008 as part of a five-building, 1.7-million-sq.-ft. office portfolio. CIM brought Cerexa to the building in 2009 to occupy the entire ninth floor and half of the eighth floor. The new lease encompasses the remaining approximately 12,000 square feet on the eighth floor. Other tenants include the headquarters of Internet music provider Pandora.
The building owner said in a statement that it 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. The company also owns and manages the Oakland Marriott City Center and Courtyard Marriott Oakland Downtown hotels, and has made investments in a variety of commercial properties in San Francisco and San Jose.