East Bay Office Group
New to the Market Jack London Office/Retail Condo For Sale
283 4th St
After the recent sale of the penthouse office suite in the Allied Paper Building at 283 4th St in Oakland’s Jack London Square the seller has decided to have us take the ground floor unit to the market. The unit is well built out to allow for either office or retail users and the location is only going to become more desirable as the Ellis/Divco West development fills with office and retail tenants. The parking garage at the development has already opened allowing a buyer here to access monthly parking less than two blocks away.
Mezzanine
The extensive windowline allows for excellent retail exposure or abundant natural light for an office user. Office users will also like the reception, mezzanine, and kitchenette – see photos below.
Reception
Kitchenette
For more information about this property please contact Dave at (510)903-7601 or Ben at (510)903-7606.
Jack London Office Condo Sells
On December 21, 2010 Ben and I completed the sale of one of the Allied Paper office condos in Oakland’s Jack London Square. The full floor penthouse unit totaled 6,973 square feet and sold for a price of $1,400,000. For more information about the sale or for help buying or selling a commercial property please contact Dave at (510)903-7606 or Ben at (510)903-7606.
Free BART Shuttle to Jack London Begins Service
The long awaited free BART shuttle to Jack London and Uptown recently began making runs between Jack London Square, Old Oakland, Chinatown, City Center BART, Uptown, and Lake Merritt. The service runs from 7AM to 7 PM Monday to Friday every 10 minutes during commute times and the lunch hour and every 15 minutes during other times.
The affect on office users is that it opens up Jack London Square properties as more viable options for companies with large numbers of public transit users. For more information visit here. As always, if you have questions relating to the commercial real estate market or are looking for space, please contact Dave McCarty at (510)903-7601 or Ben Jones at (510)903-7606.
Oakland Office Lease in Jack London Square
The continued redevelopment of Jack London Square in Oakland took another step forward recently when Sungevity signed a lease to take on office space at 66 Franklin St. The company currently leases a 6,000 square foot office in Berkeley and is now taking on another 20,000 square feet for its headquarters in Oakland. For more information on this office lease or information about office space for lease contact Dave at (510)903-7601 or Ben at (510)903-7606.
New Oakland Office Condos For Sale
Allied Paper Office Condos For Sale
Two new office condos have hit the Oakland office market in the popular Jack London Square area. We recently brought these two properties, located at 283 4th St, to the market at highly attractive prices. In fact with SBA rates at near all time lows a buyer can own these units with a payment lower than the rent would be for comparable office space in the Oakland market. The properties are located in the heart of Jack London Square and have a stylish lobby, intercom entry system, and elevator. They are less than 2 blocks from the soon to open and much heralded Jack London Market as well as multiple parking lots. There is easy BART, ferry, and freeway access.
Unit 2 is a 2,336 square foot space with high ceilings, great natural light, and open creative space. The asking price of $420,000 makes it the most attractively priced small office condo anywhere in Oakland. There is an existing partition wall that allows for a buyer to lease out approximately 1,000 square feet or remove the wall to create a great open creative space. Multiple windows allow for ample natural light.
Unit 4 is the full floor penthouse suite comprised of 6,973 square feet. This loft style unit has secure elevator access, a kitchen, server room, and large conference room. It also has 7 private offices, separate men’s and women’s restrooms, and great natural light with views.
Downtown Oakland View From Penthouse Unit
The asking price of $1,495,000 makes this a steal for an SBA buyer. At current SBA rates the monthly payment works out to $1.02 per square foot per month. That is cheaper than the rent would be on this suite. For more information please contact Dave at (510)903-7601.
Jack London Square Real Estate Values Set To Climb?
In an effort to keep the A’s in Oakland, officials have identified four possible sites for a new A’s stadium. Two of the sites are in Jack London Square. If one of the Jack London sites is developed it will significantly impact the values of commercial properties just as San Francisco has seen around the Giants stadium. This is certainly a factor companies should consider when thinking of leasing or buying office space in the Oakland market.
New Jack London Square Lease
The Northern California food brokerage firm Aiello-Coyle Blaschak leased 2,600 square feet for it’s new headquarters Ellis Partners 70 Washington in Jack London Square. The redevelopment of Jack London Square continues to move foward while small tenant continue to move into the area.
Jack London Square ’s $375 million, 1 million-square-foot redevelopment includes restaurants, entertainment, parking facilities and 100,000 square feet of Class A office space . Jack London Market is expect to open in 2010, but the Class ‘A’ office building has as of yet been able to attract any tenants.
Oakland Office Condo For Sale
How far have commercial real estate values fallen in the last year in the Oakland office market you might ask? The office condos at 428 Alice are an excellent case study.
In August of 2008 a 1,061 square foot office condo at 428 Alice in the popular Jack London Square area of Oakland sold for $235 per square foot. We currently have the listing on the remaining 2,119 square foot unit priced at $148 per square foot. This is a newly constructed office condo, built by Pulte, in a highly sought after area of Oakland.
We are fortunate that Pulte understands that it is better to beat the market down than to continue chasing it down. This is now the cheapest office condo in Oakland and we expect it to sell in a relatively short period of time due to the amount of interest already generated.
