TMG Partners has entered into a long-term lease with PG&E to relocate PG&E’s headquarters to 300 Lakeside in Oakland, Calif., from the firm’s current downtown San Francisco headquarters location.
The lease includes a purchase option for PG&E to acquire the property from TMG Partners in 2023. The transaction is approved by TMG Partners and PG&E, and is subject to final approval by the Bankruptcy Court.
“We recognized that 300 Lakeside could provide a transitional opportunity where the company is able to optimize its footprint, phase into the new space in a compact timeline in a location that is easily accessible to a majority of their employees — and understanding Oakland’s continued regional desirability for its central location, transit access, and great community,” said Matt Field, president of TMG Partners. “We worked together to structure the transaction to have a comfortable timeline to renovate the property for PG&E’s workspace
