Eastmont, which is approximately 89% leased, is a failedtwo-story indoor-outdoor shopping mall that the former ownersconverted to a well-leased government service center. The property,developed in the 1960s and 1970s, comprises 11 individual buildingsand 1,857 parking spaces. The seller, Eastmont Properties Co.,converted approximately 73% of the property to office space.

Among the conversions at the center is a former JC Penneydepartment store that has been renovated for use as the AlamedaCounty Health Department's new Wellness Center. In addition, theOakland Police Department has invested $14 million to convert aformer Mervyns building into a new police station; other in-lineand pad tenants include several other Alameda County agencies, Bankof America, Ross, AutoZone and Burger King.

The conversions give SKB a mixed-use property where 43% of therentable area is leased in excess of 10 years by Alameda County anda total of 58% of the project is leased to government and credittenants, with none of the 70 tenants' leases representing more than11% of the development. The Eastmont center is bordered by BancroftStreet, Foothill Boulevard and 73rd Avenue in a dense residentialarea of Oakland.