OPPORTUNITY FOR LAWYERS, CPA'S, OR OTHER PROFESSIONALS

I am the owner of the building at 2054 University Avenue in Berkeley, just below Shattuck. Each of its floors is approximately 4,000 square feet and is dedicated to a single tenant. One of the floors will be vacant soon, and in reflecting how to make the best use of it, the idea to create a "community" for sole proprietor lawyers, CPA's, or other professionals occurred to me. I will spell out the vision for this community below, but let me describe the space available first.

2054 University Avenue is a 6-story landmarked office building in downtown Berkeley. The ground floor of the building is occupied by the Berkeley Social Club Restaurant. Each of floors 2-5 has been renovated as a full-floor suite, with high-end finishes, to an A level.

The 3rd floor is currently available for lease, comprising approximately 4,000 rentable square feet, with a fully outfitted kitchen and 2 dedicated bathrooms. The aesthetic is industrial, with corten tile and wool carpet finishes. The space is currently designed to maximize private office space, but nevertheless incorporates 2 separate open areas and a large conference room in addition to its 10 private offices.  Most of the private offices have operable windows.

Current rents in the building average a significantly higher rate than I am seeking here. However, I am willing to accept a lower return from this floor, in order to foster a community or collective of small firms in need to high-end space - and access to shared facilities - without the ability, necessarily to afford market rent. Working from home as a professional is probably not ideal, but neither is a We Work or other similar space, or subleasing in a larger firm or other office which subsumes your identity. It occurred to me that I might be able to provide the infrastructure for a space where a group of lawyers, CPA's, or other professionals could share physical facilities such as conference room, lounge, and kitchen; support services such as administrative staff; and even less concrete resources such as the ability to draw upon each other's expertise and time in cases where more than one set of hands might be beneficial.

Specifically, what I am looking for here is a sole proprietor or small firm willing to serve as an anchor tenant. (Equally, if you are interested in being part of the community described, but don't want to serve as anchor tenant, don't hesitate to reach out, so I can register your interest.)

Ideally, this anchor tenant would require use of 1 or 2 of the 10 private offices. As lead tenant, this professional would take it upon themselves, over time, to also oversee the entire floor and to find other tenants for the other private offices. These could be short or long-term users of the space. The idea would be to agree upon a rate for each office - I am thinking an average of $1,250 per month per office - which would also entitle the tenant to use of the conference room, the kitchen, the bathrooms, and any shared open areas. These open areas could be used to create a lounge or play area on one side, and cubicles and filing for shared administrative support staff on the other. These are just my ideas. I wouldn't actually want to involve myself in how best to structure the use of the space beyond the initial organizational stages, but would leave that to the lead tenant.

The concept would be to allow the lead tenant to create a community of compatible businesses.  For example, in the case of an attorney, to draw together other attorneys in practice areas where there might be a synergistic relationship between firms.  Or a mix of attorneys and CPA's, where these businesses might draw from one another's expertise.  Or a group of podcasters with a need for recording studio space.  Etc.  The open area could be rented as well to an administrative group, which might then agree to perform support services for the collective.  Ultimately, the floor could create an identity for itself, which will allow each of the tenants to thrive and benefit from its association with the collective. 

I would also commit, as owner, to making the necessary investment into furniture, labs, phone rooms, recording or sound studios - whatever - to make the floor work for the collective created by the lead tenant.

In any event, assuming the example of the $1,250 per month per private office, I would then agree to share a portion of this with the lead tenant, in order to give that tenant an incentive to lease those offices over time. For example, 85% to me, 15% to the lead tenant. Ultimately, the lead tenant could reduce its rent effectively to zero, or even profit from this, if successful, at the cost simply of managing the space - which I don't think would require that much effort in the end.

My guess is that, while I will not initially see a market return for the space as I support the creation of this community, over time this concept could really take hold. In fact, I wouldn't be surprised to see it take over other floors in the building as they become available, too.  One floor could focus upon trust and estates.  Another tax preparation.  Another media professionals or graphic artists.  Another podcasters.  Etc.

VIRTUAL TOURS of the building are available on www.2054university.com. Please take a look at the 3rd floor online, and please contact me if you are interested in discussing the opportunity further.