Historic Oakland Office Building Scores Non-Profit Buyer
Downtown Oakland has seen some CRE activity recently, but the Bay Area market demand isn’t quite up to the overall California trend. Avison Young client Safe Passages (a nonprofit) is helping build momentum with a $3.2 million acquisition.
The three-story, 13,454 square-foot historic office/retail building was built in 1912. The property includes 4,200 square feet of ground floor retail space that is leased to a Brazilian steakhouse restaurant.
Overall, however, Safe Passages intends to occupy the office space in its entirety, per a news release.
Avison Young Principal Anthony Shell represented the Safe Passages. With a more than 25-year track record, Safe Passages is an organization “that disrupts the cycle of poverty by engaging youth and families to build and drive a continuum of services that supports student success and community development,” per its own website. The property — sold by a family trust – is walkable to dozens of retail and dining amenities in downtown Oakland. It is also a 1-minute drive to 12th Street Oakland City Center Station and is a 15-minute drive to Oakland International Airport.