What's Happening?
Cherian Harkins Dunham, a Washington, D.C.-based trial and intellectual property law firm, has expanded its presence in the Bay Area by relocating from Berkeley to downtown Oakland. The firm has leased approximately 4,000 square feet on the top floor
of 555 12th Street, also known as 555 City Center, a Class A office tower in Oakland’s central business district. This new space is double the size of its previous office in Berkeley and includes six offices, a conference room, and a kitchenette. The move positions the firm as Oakland’s only boutique specializing in high-stakes IP lawsuits, enhancing its operations in the Northern District of California and other regional courts. The firm’s managing partner, Robert Harkins, highlighted the strategic advantage of being close to the federal courthouse and access to clients in technology, media, and industrial sectors.
Why It's Important?
The expansion of Cherian Harkins Dunham into Oakland signifies a positive shift in the city’s office market, which has been challenged by high vacancy rates. The move reflects a growing confidence in Oakland’s recovery, as the city has seen a decrease in tenant move-outs and an improvement in net absorption rates. This development is crucial for Oakland’s economic landscape, as it suggests a stabilization in the office market and potential for future growth. The presence of a specialized law firm like Cherian Harkins Dunham could attract more businesses to the area, particularly those in the technology and media sectors, further boosting the local economy.
What's Next?
As Oakland’s office market shows signs of recovery, other businesses may follow suit, seeking the benefits of lower rents and strategic locations. The city’s vacancy rate, although still high, is expected to improve as more firms recognize the advantages of operating in downtown Oakland. This trend could lead to increased leasing activity and further economic revitalization. Additionally, the presence of firms like Cherian Harkins Dunham may encourage other specialized legal and professional services to consider Oakland as a viable location for expansion.
