VSCO Signs Long-Term Lease in Oakland
The lease is for 24,032 square feet of office space at 1500 Broadway in Oakland, CA
OAKLAND, Calif.—May 13, 2014--Craig Hagglund and David McCarty of Lee & Associates Oakland and Chris Chavez of Orrick, Herrington & Sutcliffe LLP, representing Visual Supply Co. (VSCO), negotiated a lease for 24,032 square feet of office space at 1500 Broadway, Oakland. Michael Harrison of Equistone represented the landlord, GSR 1500 Broadway Partners, LLC. The office will serve as VSCO’s headquarters. Terms of he transaction were not disclosed.
“VSCO wanted to stay in Oakland and this office was perfect for their needs as they continue to grow,” said Hagglund. “The building, which was built in 1923, is only two blocks from the 12th Street BART station and two blocks from the 19th Street BART station, which is in the heart of the emerging Uptown neighborhood. You have great access to the San Francisco Bay Area without the high costs.”
In addition to being VSCO’s headquarters, 1500 Broadway will serve as a multi-purpose workspace, housing an art gallery, multiple meeting areas, an eating commons, outdoor deck and flexible workstations. The space will be designed by DeBartolo Architects and built out by Flory Construction.
“We strongly identify with Oakland, as it is an up-and-coming area that embodies the grit and creative spirit of VSCO,” said VSCO Co-Founder and CEO Joel Flory. “Our favorite art galleries, museums, restaurants and, of course, the A’s, call Oakland home. We are proud to be part of the creative culture of Oakland. Our roots run deep here.”
Earlier this month, VSCO announced the closing of a $40 million Series A financing led by Accel Partners, with participation from Goldcrest Investments. The company will use the funds to invest in product development, improve international infrastructure, and increase VSCO’s Artist Initiative scholarship fund to $1 million.
VSCO is passionate about creating beautiful and efficient digital tools and services for the modern creative. Formed in 2011 by Joel Flory and Greg Lutze, the company is based in Oakland, Calif. with offices in Colorado and New York.
About Lee & Associates Oakland:
Since it opened with four brokers in April of 2006, Lee Oakland has grown to more than 15 brokers that service the industrial, office and retail markets. With its link to Lee & Associates’ other two Northern California offices, Pleasanton and Stockton, the coverage and service increases with 45 total brokers. For further information visit us at http://goo.gl/vnJHIU