Rotunda Building in Oakland Signs Two Leases, Gets Major Renovation

CBRE arranged two lease extensions totaling 10,000 sq. ft. at the Rotunda Building, a 300,000 sq. ft. office and retail building located at 300 Frank Ogawa Plaza in downtown Oakland. The Rotunda Building is owned by Rubicon Point Partners, who purchased the building in January 2022 and has already begun work on significant upgrades to building systems, common areas, and new tenant amenities.

CBRE’s Andy Schmitt, Trent Holsman and Alex Robertson represented the landlord, Rubicon. Michael Sharapata of JLL represented East Bay Endoscopy Surgery Center, an outpatient endoscopic facility specializing in gastroenterology. Russel Gallaway of Gallaway Commercial represented East Bay Center for Digestive Health, a provider of comprehensive gastroenterology and hepatology services.

“The Rotunda is one of downtown Oakland’s most iconic buildings – its architectural details and unique history have stood the test of time as the City continues to grow and evolve. The Rotunda’s proximity to local restaurants and public transit have made it a destination for weddings, galas and other local events, and the forthcoming renovations will bring modern touches to a treasured building,” said Andy Schmitt, Senior Vice President at CBRE.

Built in 1912, the Rotunda Building was originally designed as a Kahn’s Department by Bay Area architect Charles Dickey, who also designed the Claremont Hotel. Both the Rotunda and the Claremont Hotel are on the National Register of Historic Places. The building underwent major renovations and a full seismic upgrade in 2000, when the prior owner converted it to an office and retail building.

Rubicon is now working with RMW Architecture & Interiors to renovate the building’s common areas and modernize its amenities. Common area renovations include a new fitness center with showers and lockers, lounge area, game room, and a large meeting and conference center. The property’s ground level, often used for events and weddings, will also receive a new bridal suite and other modern finishes. Upgrades are starting this summer and are expected be completed in 2023 and early 2024. View additional renderings here.

“The Rotunda Building is a beautiful and historic landmark in downtown Oakland, and we are excited to be part of its next chapter. Our goal is to elevate the user experience while preserving and celebrating key historical elements of the building and the surrounding area. As evidenced by our renovation plans, we are firmly committed to providing a best-in-class experience for our tenants at the Rotunda Building, and we are grateful to East Bay Endoscopy Surgery Center and East Bay Center for Digestive Health for their long-term commitments to the building, as well,” said Annie Doud, Director at Rubicon Point Partners.

The number of tenants actively seeking office space in Oakland has steadily increased since the fourth quarter of 2022, according to CBRE Research. Three of the top five leases in Q1 2023 were in downtown Oakland, a positive indicator of leasing activity in the market. The Medical sector made up 75% of leasing activity in Q1, followed by Business Services (7%).