But Ewing doubts many will make the move. He estimates that only one-third of companies in Oakland are there because of high rents in San Francisco. And he pointed out that many of those who recently made the move across the Bay signed leases of five or more years and can't move right away without losing money. Christopher Curtis, regional leasing director for Shorenstein Co., isn't concerned about Oakland tenants jumping ship to San Francisco. Shorenstein Co. has 270,000 square feet of space left to lease at its new City Center project in downtown Oakland.
Companies find it's convenient and a great place to be.
Of course, no one is predicting that Oakland will be untouched by the real estate downturn. Indeed, a few companies are subleasing space. But the coming months will show just how tied Oakland's real estate market is to its flashier neighbor to the west. Amanda Bishop covers real estate for the San Francisco Business Times. Earliest info on new businesses, homeowners Sales Prospecting Center Real info, real opportunities.