San Francisco-based fintech Square Inc. has eyed Oakland for a big lease, according to the San Francisco Chronicle.
The payments processing company reportedly looked at Uptown Station, a 356,000-square-foot refurbished, mixed-use building that is one of the largest blocks of office space available in Oakland.
“There are large tech tenants looking at Uptown, but none have landed yet,” Edward Del Beccaro, a managing director of Transwestern, told the Chronicle.
Landlord CIM Group has been chasing tenants for the space since it bought the building in December 2017 for $180 million. The approximately $40 million renovation of Uptown Station by Truebeck Construction is expected to finish early next year.
CIM picked up the property at 1955 Broadway from Uber Technologies, which had planned to move up to 2,000 employees into the space, but decided to consolidate in San Francisco instead.
Square has been on a growth tear as of late. Over the summer, it added 104,100 square feet to its San Francisco headquarters at 1455 Market St. for a total of 469,000 square feet there. It is also growing outside the Bay Area and internationally.
In addition to Uptown Station, Oakland has a handful of similar historic rehabs, including projects from TMG Partners and Harvest Properties.