Vertical Ventures Buys Historic Wakefield Building for $30M

The Swig Company and STARS Real Estate Investments have sold the eight-story, historic Wakefield Building located at 426 17th St. in Oakland, for an estimated $29.9 million to Walnut Creek-based investor Vertical Ventures.

The Wakefield Building, built in the 1920s, offers 56,666 square feet of creative office space in downtown Oakland’s Uptown neighborhood, adjacent to the entrance to the 19th Street BART Station. The project is also LEED Gold certified by the USGBC.

According to Swig’s Tomas Schoenberg, the company and its partners are proud “to have improved its appeal to tenants and secured LEED Gold status. We are confident the new owners will continue the great legacy of this building into its next iteration,” he added.

Cushman & Wakefield’s Seth Siegel, Ryan Venezia and Ryan Hattersley brokered the sale. Tony Ratner, Esq. and Jonah Trotz, Esq. of Farella Braun + Martel represented the sellers.

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