Address: 426 17th Street, Oakland, CA
Year Built: 1924
Building SF: 56,666 SF
Purchase Price: $29.9 million
Closing Date: Jan 1, 2020
Projected Hold Period: 4 Years
Eight-story LEED Gold-certified value-add office building located in vibrant downtown Oakland, CA.
- Institutional quality building with significant upside through lease-up and mark-to-market of existing rent roll;
- Current occupancy of 57% with in-place contract rents approx. 18% below market rate;
- Excellent local market fundamentals, the Oakland CBD office market has recently emerged as one of the tightest markets in the nation.