Swift Adds 1111 Broadway to Expanding East Bay Portfolio
In a sign that office space, especially of the trophy variety, is still top-of-mind for investors, Swift Real Estate Partners recently acquired 1111 Broadway in the Oakland CBD. Reports put the sale north of $320 million.
“We celebrated our 11th anniversary in July, and are continuing to grow and expand in our target West Coast markets. 1111 Broadway has been one of the best-performing assets in Oakland since it was built and we’re excited to add this marquee building to our expanding East Bay portfolio,” said Christopher Peatross, president of Swift Real Estate Partners.
1111 Broadway is located directly atop the 12th Street BART station. The 24-story class-A office building totaling 565,877 square feet features 24,000-square-foot floorplates. Tenants also benefit from panoramic views, destination dispatch elevators, onsite parking and a recently renovated lobby. The asset is 91 percent leased to a diverse roster of tenants.
Swift was represented by Jack Machalow with Orrick.
Swift is currently investing on behalf of its third institutional value-add fund focused on West Coast office and industrial assets.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.