SAN FRANCISCO-Scanlan Kemper Bard of Portland, OR has acquired two office buildings in the East Bay area for a combined $61.5 million. The Portland-basedreal estate merchant banking firm, through SKB Real Estate Investors LP and a co-investment vehicle, now takes title to the 43,661-sf Berkeley Tower in Berkeley and the 123,200-sf Jackson Center I & II in Oakland.

The seven-story Berkeley Tower was constructed in 1983 and sits on approximately a fifth of an acre in Downtown Berkeley at the corner of Shattuck and University avenues. The eight-story Jackson Center I & II was completed in 1962 and sits on nearly 1.4 acres at the intersection of 11th and Jackson streets in the Oakland CBD.

Overall occupancy is 80.5% at the two buildings, providing the new owners with potential upside both by filling the vacancy and raising rents when leases roll over.Bob Scanlan, SKB Chairman and CEO, points out that San Francisco rents have risen to levels not seen in the marketplace since 2000.

Tenants at the Berkeley Tower include Lawrence Berkeley National Laboratories, which has leased the building’s office space since 1999. The ground floor retail space is leased to a restaurateur and a coffee bistro.

Jackson Center I & II, which underwent a major structural renovation in 2000 and 2001, occupies a location “at the doorstep of the Alameda County seat,” observes SKB president Todd Gooding. He points out that government and public sector agencies are the backbone of the Oakland CBD office market.

Jackson Center I is currently 73.7% occupied by the County of Alameda, the Social Security Administration, the Department of Homeland Security and the National Park Service. Jackson Center II is a single-story structure with underground parking facility for 65 vehicles.

The Jackson Center II property, formerly occupied by the County of Alameda, is entitled for a 104 unit, mixed-use residential development. The two new SKB assets are part of a portfolio of 1.7 million sf that the company owns in the Bay Area, including the recently acquired San Francisco Giftcenter & Jewelrymart.

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?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

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

  • Free unlimited access to'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 and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.