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CIM Group Buys Oakland’s Uptown Station for $180M from Uber
Los Angeles-based CIM Group acquired Uber’s Uptown Station building in Oakland for a reported $180 million, and plans to complete the redevelopment that is currently underway. That will transform the 1929-era former department store into a 356,000-square-foot, eight-story Class-A creative office building.
CIM Group’s Avi Shemesh notes, “Uptown Station is a rare opportunity and a standout among office properties in the Bay Area for a broad array of large creative office tenants.”
The Downtown Oakland asset is near three key transportation arteries and across from a BART station. It will include 35,000 square feet of ground-floor retail space, and feature a multi-story atrium lobby and a grand paseo lined with shop space for retail and restaurant concepts.
Uber purchased the property at 1955 Broadway in 2015, and has been converting the property to an urban office campus. The redevelopment program is anticipated to be completed in late 2018.
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- ◦Sale/Acquisition


