Alameda, CA – Ellis Partners today announced that OtisMed Corporation has selected 1600 Harbor Bay Parkway as the site of its new headquarters. OtisMed has signed a 6 year lease and will occupy 28,608 square feet of manufacturing and office space.
“The presence of a rapidly expanding, innovative company such as OtisMed is further evidence of the attractiveness of this unique location,” said Ellis Partners Senior Vice President of Acquisitions, Jason Morehouse. “We are delighted to have the opportunity to work with them as they continue their success.”
OtisMed relocates to Alameda’s Harbor Bay submarket from their previous location in Hayward. With the move, OtisMed triples the size of its operation. Founded in 2005, the company has since pioneered the concept of Custom Fit KneeTM Replacement with its groundbreaking OtisKneeTM technology.
“1600 Harbor Bay Parkway is an ideal fit as our operations continue to expand,” said OtisMed CEO Charlie Chi. “Our team hails from all parts of the Bay Area, making a central location an absolute must. They’re ecstatic about the easy commute, improved atmosphere, and of course, the views.”
“It’s a testament to the focus of Ellis Partners that they were able to get a lease committed less than 6 months after the purchase of this property,” said Chris Johnke Vice President of Grubb & Ellis Co., who represented Ellis Partners in the lease transaction. “They had a vision and saw it through, providing a creative solution to OtisMed’s unique needs.”
San Swan, Executive Vice President, The Stubach Company, which recently merged with Jones Lang LaSalle, Inc., represented OtisMed.
“This lease was one of the most significant relocations to Alameda this year and reinforces the strength of this location for growing technology companies,” said Swan, now a Managing Director with Jones Lang LaSalle, Inc.
1600 Harbor Bay Parkway is one of several recent acquisitions by Ellis Partners in the Harbor Bay submarket along with neighboring 1201 Harbor Bay Parkway and the adjacent Alameda Technology Center. Built in 2001, 1600 Harbor Bay boasts 61,463 square feet of modern, top quality office space spread over two floors. Just steps away from the waterfront, the building’s unique location affords spectacular views. The property is managed by CAC Real Estate Management Company.