August 30, 2016
San Francisco-based TMG Partners acquired 2201 Broadway, an eight-story 198,000-square-foot office building in Oakland, CA from an undisclosed seller for a reported $77 million. The art deco building, located in Uptown, was acquired via the firm’s discretionary separate account.
TMG Partners’ David Cropper says tenant demand is surging, especially for locations in rich urban settings. “Oakland’s Uptown is truly a mixed-use neighborhood with restaurants, retail, art and entertainment, as well as housing and office space. We believe it [2201 Broadway] will be a standout address for technology and other office tenants.”
2201 Broadway is TMG Partners’ second Oakland office acquisition, following the acquisition of 1330 Broadway in November of last year.
Newmark Cornish & Carey’s Michael Taquino, Dan Cressman, and Kyle Kovac handled the transaction.
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