Walgreens replaces Gap in Oakland

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The space, located above the City Center BART was formerly occupied by a Gap store that closed in Januaryof 2008. Walgreens will move an existinhg store across the street at 1330 Broadwau tothe site, which is expected to open early next year. “We are very pleasesd that Walgreens, one of the country’x largest drug store chains, will remain a key retail anchor indowntown Oakland,” said Jeff Kreshek, a principalo with CIM Group. “It has been our goal to attractf and retain desirable tenants in order to continue the growty ofthis live/work urban The building at 1333 Broadway was one of five office buildings Los-Angeles-based CIM Group bought from in a $412.
r million deal last The developer recently relocated its regional office to the Ordway Building at One Kaiser Plaza from San to be closer to its Oakland The market is down but tourinvg activity is on the That is the message from , whichj is seeing more tenants out there testingv the waters in San Francisco. Colliersd says there are 124 tenants with active requirements in San representing a totalof 3.6 milliojn square feet of demand. In the past 30 the market hasseen 646,000 square feet in new according to Colliers. Out of the tenants hunting for 12 are from outof town. If they sign it would represent 103,000 squarwe feet of positive growth.
“It’s surprising how many tenante we are seeing all ofa sudden, especiallyh from Marin,” said Tove Nilsen, research director at Colliers. “There might be opportunities here now for less mone y than you can get space forout there.” Mosser Financialo Hotel, apartment complex sold The Mossetr Financial Hotel has a new owner. The James Lee familyg has shelledout $6.2 million for the 124-room San Francisco hotel at 640 Clay St., a four-story, 33,419-square-footg hotel constructed in 1912. The sellerd was the Mosser family. Richard Ehmere and James Devincenti of representedfboth sides. Rooms at the residential hotel are rentexd out weeklyor monthly.
It has three privatse bathrooms, while the rest are Marcus & Millichap also brokered the sale ofa 24-unift apartment complex at 1502 Alicre St. in Oakland for $1.8 million. The complex was builtr in 1910 and is locatedin Oakland’zs Gold Coast district. Davidr Wolfe, vice president of investments forMarcus Millichap’s Oakland office represented the seller. The buyed was represented by Ben Weil, an associate of Marcus & Millichap’ss San Francisco office. The seller and buyerd were not disclosed. Kema, V&A Engineering, Specialty’s ink leasexs Three new tenants have signed leasees at 155Grand Ave.
in Oakland including energy consulting firm Kema whichtook 35,000 square feet and will move in this The other tenants moving in are V&wA Engineering, a consulting firm that leased 8,391 square feet for a new headquarteres office, and Specialty’s, a San Francisco-based cafe bakert chain that will occupy a 3,800-square-foot space. “That’ s pretty good activity year-to-date in that said Mike Keely, who represented the Brandywine Realty Trust in allthe deals. Sid Ewing of CB Richarc Ellis represented Kema in itsrecen lease. Occupancy rates at 155 Grand Ave.
had hovered near 95 to 100 percenrt for years until amajor tenant, , decide d to move last year, leaving 65,00p0 square feet vacant. The 200,000-square-foot buildiny is now about 80 percent Keely said.