July 15, 2016
New York-based Clarion Partners is acquiring 1999 Harrison St., from San Francisco-based DivcoWest Properties for reportedly more than $211 million. The 27-story high-rise Class A office building is part of Lake Merritt Plaza, located in the Lake Merritt/Uptown section of Downtown Oakland.
DivcoWest acquired the property in 2014 and subsequently transformed it from a value-add opportunity to a core asset. The property’s occupancy has risen from 82% to near full occupancy. Colliers International’s Ken Meyersieck and Trent Holsman handle leasing at the property.
Completed in 1985, 1999 Harrison St. contains more than 490,000 square feet of space and features a newly renovated lobby. Among the amenities at the property are laundry lockers, secured bicycle parking, shower/locker rooms, retail shops and restaurants, and courtesy umbrellas on rainy days.
For comments, questions or concerns, please contact Dennis Kaiser