The property, which is located in a desirable location in thesquare, will be sold, under the proposal, for $17.2 million. Theseprime buildings on the Oakland waterfront include tenants, such asBarnes and Noble, TGI Friday's, Pizzeria Uno, El Torito and the OldSpaghetti Factory restaurants.
These publicly held assets attract more than 5 million visitorsa year. The buildings were previously appraised at $18.5million.
The sale is part of a huge bid deal that awarded the developmentteam a $250 million waterfront project on public land south of JackLondon Square. The developers leased the land for 66 years.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
