Project Positioning Building Design The architectural design of the project is intended to fit the immediate surroundings with a classically symmetrical and traditionally detailed faรงade. Floor sizes of approximately 20,000 square feet on floors two and three are ideal for marketability. Floors four through seven at approximately 14,000 square feet each are slightly smaller than the ideal size, but are very acceptable to accommodate single or multiple tenants efficiently. Core and shell mechanical electrical and plumbing systems as described by the developer meet Class A standards and the LEED certified designation as contemplated is a positive marketing feature. The pro forma assumes a tenant improvement allowance of $30.00 per square foot which is within the competitive market range. The protected, below grade parking with 117 lined spaces / 170 valet spaces is an amenity for the project however the proportion of parking spaces per building area is low relative to the market and presents a potential drawback in leasing to certain types of tenants.
Sites in the Oakland Submarket Other development sites or planned projects that are pertinent to the competitive positioning of Schenley Place are outlined below: Project
Proposed Office SF
Comments
Sterling Plaza
101,000 (one building)
In the market for pre-leasing.
Oakland Portal
390,000 (multiple buildings)
Preliminary planning, approvals required.
County Health Site
75,000-95,000 (one building)
Preliminary planning, approvals required.
CB Richard Ellis | Page 12