California Real Estate Journal

Oakland - October 5, 2000 - Fast on the heels of the city's decision to enter into an estoppel agreement cementing the $70 million construction loan for the newest building at Oakland City Center, Shorenstein Realty Services announced the signing of two new tenants at existing City Center buildings. Law firm Goldfarb and Lipman leased 14,996 square feet at 1300 Clay St. and ADB Insurance and Financial Services has agreed to take 6,111 square feet at 1111 Broadway.

Goldfarb, which will occupy the entire 13th floor of the Clay Street building, is relocating from San Francisco. According to partner David Kroot, the firm settled on City Center primarily because of its access to transportation. AC Transit System runs several lines past the location, BART has a City Center station and the freeway entrance is only a couple blocks away. In addition, Kroot calls the development "a desirable business address."

ADB, the largest independently owned insurance brokerage in the western United States, will use its space to house its first regional office. The company is headquartered across the bay in Belmont. According to ADB development manager Dave Hock, the company believes it is "important to have a physical presence in this burgeoning marketplace."

Mike Tobin of Pacific Union represented Goldfarb in its transaction of undisclosed length. Karen Fairty of the Staubach Co. represented ADB in its six-year lease. Shorenstein marketing director John Dolby represented his firm in both deals.

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