December 4, 2015
Divco West and Ellis Partners are reportedly in talks to sell a six-building Jack London Square office and retail portfolio. The buyer’s name has not been divulged, but owns property across the country.
Though no price was released for the sale, the buildings, totaling 434,384 square feet, are valued at $130 million. The retail portion totals 190,000 square feet and is 70-percent leased, while the offices total 240,000 square feet and are completely leased. Sungevity, a solar-power company, and software firm Navis LLC are the main tenants, while Sunset Magazine will soon move in.
Will Miller, a senior vice president of asset management at Ellis Partners, says Jack London Square was poised to become a regional draw.
Oakland’s office market has experienced more than $1.3 billion in sales over the past few years.