ALAMEDA, CA–Alameda Center, a four-building, 155,040-square-foot office property portfolio has been acquired by PCCP LLC with a reported purchase price of $19.6 million. The seller was Steelwave (formerly known as Legacy Commercial).

Erik Flynn, managing director with PCCP, tells GlobeSt.com: “PCCP sees Alameda Center as an attractive office choice for tenants who desire to be close to the city while maintaining the comforts of a low density office park. Through our ownership, we anticipate completing targeted capital projects that will further enhance Alameda Center’s positioning in the market.  The project’s high-quality office space provides a great alternative for tenants who are being priced out of the neighboring markets of San Francisco, Oakland and Emeryville–all of who are experiencing rapidly rising rents. Additionally, with the pending 50,000 square foot vacancy, we will be one of only a few landlords in the East Bay able to offer contiguous vacancy of that magnitude.”

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