Oakland - October 11, 2000 - San Francisco-based Shorenstein Co. LP has landed a second tenant for the 472,000-square-foot office tower it has in construction 555 City Center. IDG Games Media Group has leased the entire 11th floor of the 20-story structure, the city's first major new private-market office building since another City Center building, 1111 Broadway, opened in the early 1990s. The lease is for 12 years. Ask Jeeves earlier signed for 159,000 square feet.

IDG, which is currently located in San Francisco, was prompted to relocate across the Bay when its current landlord requested a three-fold increase in rent. According to IDG president and CEO John Rousseau, the new facility, which will be ready for occupancy in the last quarter of 2001, offers both lower rent and more convenient location.

"We'll be in a beautiful, brand new Class A office facility with terrific access to public transportation," he says. "We're a very busy company and this convenience is a major benefit as it allows our employees to easily come and go."

Shorenstein marketing director John Dolby represented his firm in the transaction. John Abel of the AXIANT Group represented IDG.

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