East Bay Office Group
Jack London Office Condo Sells
We recently completed the sale of another office condo at 283 4th St. The unit, in the Jack London Square area of Oakland, is 2,336 square feet and sold for a very attractive price. The buyer is a long time client who previously leased the space. This transaction represents the second sale we have completed in the project leaving us only a 7,312 square foot unit for sale or lease. For more information or help with your office lease, purchase, or sale contact Dave McCarty at (510)903-7601 or Ben Jones at (510)903-7606.
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.
Oakland Office Building Sells
Recently Ben and I represented the buyer on the sale of an office building at 230 Grand Ave in Oakland. The property is approximately 13,600 square feet and was fully occupied at the time of sale. The sale price was well below $100 per square foot. It represented a great value add investment as many of the leases were at well below market rates and the leases were expiring this year. Many of the tenants are long term with little risk of large vacancies as rates are moved up to market level. We are seeing many such opportunities for investors and the owner/user market for commercial real estate continues to be attractive. If you would like more information about this sale or other opportunities 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.
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.
