May 9, 2016 Comments Off on Uber Developer Pursuing Another Creative Conversion? Views: 587 Bay Area, California News, West

Uber Developer Pursuing Another Creative Conversion?

Where can you get all the latest Bay Area CRE market insights? Savvy people know the place to be on May 12th is The Hibernia Bank for Connect San Francisco.

The development team behind Uber Technologies’ new Oakland HQ is reportedly on the move again. Menlo Park-based Lane Partners’ and Chicago-based Walton Street Capital are said to be eyeing another tech destination redevelopment project at 2150 Webster St. in downtown Oakland.

AT&T is moving out of the 10-story, 228,033-square-foot building in September. That would open the door to convert the 1975-era property into new creative office space, similar to what was done at the former Sears Building.

Asset pricing for 2150 Webster is unknown, though when the sale closes it’s expected to fall below what Class A building comps are in Oakland because of redevelopment costs involved. CBRE’s Capital Markets’ Sean Sullivan, Tyler Meyerdirk, Russell Ingrum, and Seth McKinnon, along with Mike Keely and Brad Zampa are involved in the sale.

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