The seven-story Berkeley Tower was constructed in 1983 and sitson approximately a fifth of an acre in Downtown Berkeley at thecorner of Shattuck and University avenues. The eight-story JacksonCenter I & II was completed in 1962 and sits on nearly 1.4acres at the intersection of 11th and Jackson streets in theOakland CBD.
Overall occupancy is 80.5% at the two buildings, providing thenew owners with potential upside both by filling the vacancy andraising rents when leases roll over.Bob Scanlan, SKB Chairman andCEO, points out that San Francisco rents have risen to levels notseen in the marketplace since 2000.
Tenants at the Berkeley Tower include Lawrence Berkeley NationalLaboratories, which has leased the building's office space since1999. The ground floor retail space is leased to a restaurateur anda coffee bistro.
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