Source: Shorenstein Leasing News – January 13, 2004

OAKLAND, Calif., January 13, 2004 - Two new tenants: Clear Channel Outdoor, Inc., and a group of independent attorneys — have signed leases for office space in Oakland City Center. In addition, current 555 City Center tenant Carol H. Williams Advertising recently expanded its office space by 25%.

Moving from a Port of Oakland office property on Maritime Street, Clear Channel Outdoor has leased 10,854 square feet on the building’s 9th floor. The 10-year lease will commence March 1, 2004.

According to Clear Channel Outdoor’s president, Bill Hooper, the company is moving to 555 City Center in downtown Oakland because of its proximity to public transportation and neighboring retail. “We are thrilled that we will continue to be headquartered in Oakland in a quality development like City Center.”

The Northern California division of Clear Channel Outdoor employs 100 people. About half of the division’s personnel will be based at 555 City Center.

lear Channel Outdoor is the largest outdoor advertising company in Northern California. Clear Channel Communications, headquartered in San Antonio, Texas, is a global leader in the out-of-home advertising industry with radio and television stations, outdoor displays, and entertainment venues in 65 countries around the world. For more information about the company, go to http://www.clearchannel.com.

In other activity, a group of attorneys is moving to the 8th floor of 1300 Clay Street. The lawyers — Diane Cash, Marjory Kaplan, Miriam Steinbock, Dennis Rothhaar, Peter Lomhoff and Deborah Marx — have leased 4,649 square feet of office space, and are moving from the Ordway Building near Lake Merritt. The lease term begins March 1, 2004 and will run five years and three months.

Finally, current 555 City Center tenant Carol H. Williams Advertising recently expanded its existing lease of 24,161 square feet, adding 5,889 square feet of office space on the building’s 12th floor. The five-year lease began October 1, 2003.

“These companies are taking advantage of City Center’s prime location and high quality office space and property management services,” comments John Dolby, Shorenstein vice president in charge of City Center leasing. “We’re pleased to welcome them.”

Matt Elmquist with Aegis Realty Partners represented Clear Channel in the lease agreement; Sid Ewing and Sheldon Crandall of CB Richard Ellis’ Oakland office handled the lease transactions for the attorneys; John Dolby acted on behalf of Shorenstein Realty Services for all leasing activity.

ABOUT OAKLAND CITY CENTER
Located directly above the 12th Street BART station and only two blocks from Interstate 580, City Center is a focal point for commercial and government activity in downtown Oakland. With the recent completion of 555 City Center, Oakland City Center encompasses more than 3.5 million square feet of office space and includes 18 restaurants and food outlets, more than a dozen retail
shops and services, a complete athletic club and parking for 2,840 vehicles. The Marriott Hotel and Oakland Convention Center are conveniently located directly across from the development.

ABOUT THE SHORENSTEIN COMPANY
San Francisco-based Shorenstein Company is one of the oldest and largest privately held real estate investment and development firms in the country. The company currently operates more than 22 million square feet of prime office space nationwide in major markets such as San Francisco, Chicago and New York. Since 1992, the company has invested through a series of real estate investment funds. The company’s sixth fund closed to investors in 2001 after raising $600 million in equity. For more information on Shorenstein Company, visit the company’s web site at http://www.shorenstein.com.

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For media information, contact: Dianne Newton-Shaw AVISO Inc. (510) 865-5100
di@avisoinc.com
http://www.oaklandcitycenter.com/newsdetail.cfm?ID=159

http://www.oaklandcitycenter.com
http://www.clearchannel.com