OAKLAND CITY CENTER

Neighborhood

Downtown Oakland

Property Type

Office

Project Size

367,000 square feet

OAKLAND CITY CENTER

In 2013, in partnership with a global private equity real estate firm, Strada acquired 505 14th Street, a 172,000-square-foot office building, and 1300 Clay street, a 195,000-square-foot office building, located in downtown Oakland’s City Center development. The buildings sit directly above a BART station and an underground parking garage with more than 1,000 stalls. City Center is only two stops from downtown San Francisco, and is adjacent to the vibrant Old Oakland neighborhood.

Strada recognized that structural dynamics in the Oakland office market were changing and held the view that rents were poised to rise significantly.  In addition, Strada identified opportunities to create value through greater operational efficiencies at the properties. Having achieved these goals of lower expenses and higher rents, the venture sold the buildings in 2015.