X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

OAKLAND, CA-The owner of a 33-year-old leasehold for the historic Sweets Ballroom is offering it for sale at $4.25 million. Located within the J.J. Newberry building at 1933 Broadway, the 12,000-sf art deco ballroom and concert venue seats about 900 and once hosted the likes of Frank Sinatra, Count Basie, Ella Fitzgerald and Duke Ellington.Local resident Matthew Fox acquired the property in 1998 to prevent it from being torn down and replaced with an office building. With developers Phil Tagami & Len Epstein, who now own the building (and are looking to sell it), Fox spent $2 million restoring the art deco ballroom and concert venue, which includes an 8,000-sf sprung wooden dance floor, a 1,000-sf bar/lounge area, and a 2,000-sf balconied mezzanine. Historically, concert production companies have attempted to own and master-lease venues to succeed in an increasingly competitive industry, and Sweet’s Ballroom fits nicely in that business model. The listing broker, Martin Harris of Zephyr Real Estate in San Francisco, says Fox hopes to attract a buyer who will bring world-class acts to Oakland. “We plan to see if there’s interest by companies like Bill Graham, House of Blues, Anschutz Entertainment and Another Planet Entertainment,” Harris tells GlobeSt.com. “It could be a real popular venue if it’s run by the right people.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.