Oakland’s biggest office building is for sale
Roland Li
sfchronicle.com
November 19, 2019
The Kaiser Center, where BART's administrative offices are currently housed, is seen in Oakland, Calif. on Thursday, Sept. 5, 2019. BART administrators are hoping to relocate the transit agency's longtime headquarters in the Kaiser Center to a newly constructed office building two blocks away on Webster Street.
The largest office building in Oakland is up for sale.
Spanning nearly 1 million square feet, 300 Lakeside Drive, previously known as Kaiser Center, could set a record price as the city’s biggest property sale.
Owners the Swig Co. and Rockpoint Group told The Chronicle they are marketing the “highly desirable, transit-focused urban campus” in a market with few vacancies for growing companies.
“300 Lakeside is one of a very few Bay Area locations where a large tenant can access near-term, large block creative space as well as the long term ability to grow in one of the Bay Area’s most dynamic and accessible corporate locations,” said the Swig Co.
....
The tower was built in 1960 as the headquarters of Kaiser Industries, the construction and shipyard conglomerate whose health care operation was a predecessor to Kaiser Permanente.
....
Swig and Rockpoint previously completed a lobby renovation to attract new tenants. They also proposed building two additional towers on the property totaling 1.3 million square feet, which a new owner could pursue.
....
“Any investments to this property would have a meaningful impact on the overall Oakland market simply by its sheer market share,” said JLL’s Quinn. A major tech tenant would further transform the city’s economy, he said.
“Whatever happens, the sale will be a barometer for Oakland’s overall office market,” Quinn said.