Union City-based sports footwear and apparel company Ariat International has leased more than 80,000 square feet of office space at the San Leandro Tech Campus, according to Colliers International, the brokerage that represented landlord Westlake Realty Group.
Ariat signed a 10-year lease agreement for the 80,700 square foot building on 1500 Alvarado Street. While the lease terms were not disclosed, the listing brochure said Westlake was asking for $3.95 per square foot. The San Leandro Tech Campus is located directly across the street from the BART station and is situated in the middle of downtown San Leandro.
The San Leandro Tech Campus was developed in 2016 and has 1 million square feet of “technology focused” office space.
“Adding such a quality tenant to our current tenant roster consisting of Aveva and Ghirardelli will only further strengthen the San Leandro community,” Jeffrey Bak from Westlake said in a statement.
The demand for quality, Class A office space has increased as tenants attempt to lure their employees back to the office after the pandemic. According to a report by CBRE, average rents for high-quality buildings increased by 6.7 percent this year, compared to a 1.1 percent decrease for older properties.
The demand for Class A space is illustrated by recent deals in the East Bay. Software company Vagaro just leased a 100,000 square foot building in Pleasanton Class A office campus Rosewood Commons, while Diversified Healthcare paid $82 million for a 90,000-square-foot building in Fremont.
Ariat is headquartered in Union City where it operates out of a 65,000-square-foot building at 3242 Whipple Road.
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