October 9, 2015
Strada Investment Group and Angelo Gordon & Co. are reportedly selling two downtown Oakland office buildings for $115 million. Sources say the properties at 505 14th St. and 1300 Clay St., near the 12th St. BART station, are being purchased by Rubicon Point Partners and Canyon Capital Advisors.
The downtown Oakland offices total just under 400,000 square feet and are occupied by a variety of different tenants in the engineering, banking and consulting industries. Strada reportedly made $50 million from the transaction, after buying the properties only two years ago.
The deal epitomizes downtown Oakland’s hot office market, where Uber recently expanded its workforce and acquired the former Sears building for $123.5 million.