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ALAMEDA-Alameda Alliance for Health has bought a 50,000 SF office/R&D building on 2.75 acres in Alameda for $6.5 million. The building, located at 1240 South Loop Road in Alameda’s Harbor Bay Business Park, is 50% occupied by Lucent Technologies under a 5-year lease.

Greg Lagomarsino of Colliers International represented Alameda Alliance and Sam Swan of Cushman and Wakefield negotiated the deal on behalf of the seller, Legacy Partners Commercial, Inc. Lagomarsino tells GlobeSt.com that the property had been on the market to be leased for quite a while before it was put up for sale, but sold immediately.

“Alameda Alliance is leasing in Alameda and their lease is about to expire,” said Lagomarsino. “They wanted to buy in the area and there aren’t a lot of properties for sale. This is a nice expansion for the company and a great opportunity to have a good tenant who has just signed a five-year lease.”

Alameda Alliance plans to move into its new corporate headquarters at the end of this year.

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