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Balfour Beatty – Oakland

• 2335 E Broadway
  Oakland , CA 94612

• Real Estate Type: Office

• Square Feet: +/- 14,067

Project Overview

• Minimally used 14,067 SF Balfour Beatty office
• 5 years of term left on the lease
• Cost was $738k pa at the time

Challenge

• Terminating leases without the right is extremely rare
• BB had a subtenant in place

Solution

• Convince the owner he could terminate Balfour Beatty and rent the space to higher paying tenant, and for longer term
• Quickly negotiated termination

Results

• Terminated the lease for $525k to save up to $4.1 million in leasehold obligations
• Closed transaction before the COVID-19 pandemic occurred