OAKLAND, Calif.–CIM Group announced today that it has completed construction of Channel House, an eight-story residential community, featuring 333 apartments and ground floor retail, at 40 Harrison Street at Jack London Square, a 12-acre entertainment and business destination on Oakland’s waterfront. Channel House is bounded by Embarcadero West, Alice Street, and Harrison Street, and is also adjacent to the San Francisco Bay Trail.
Channel House is located on one of three land parcels, which CIM acquired in March 2016, along with seven buildings in Jack London Square — three office buildings with ground and second floor retail; three retail buildings; and a parking structure with ground floor retail.
CIM Group brings its long-standing development and operational expertise to enhance Jack London Square. The development of Channel House and ongoing leasing activities at Jack London Square advance CIM’s program to bring a complementary mix of uses and offerings that appeal to residents, visitors, and tenants. Channel House residents will have the area’s many shopping, dining, entertainment, and recreation options at their doorstep.
The apartment building’s architectural design takes full advantage of its waterfront location with a glass façade providing sweeping bay views, balconies, and landscaped courtyards. The building offers residents a host of on-site amenities including outdoor terraces and lounges, a fitness center, and a bike storage and repair facility. Residences are configured as studio, one- two- and three-bedroom floor plans. Approximately 2,000 square feet of ground floor retail will further enliven the pedestrian street experience.
CIM has been involved in the Greater Bay area since 2001, when it identified the community as possessing the attributes that fit its stringent criteria for qualified communities, which includes established and emerging urban areas with solid infrastructure and transportation networks. CIM’s first Oakland acquisition took place in 2007, and it has remained an active owner and operator in the area. In addition to Channel House, CIM Group recently debuted 1150 Clay Street, a 16-story, 288-unit apartment building, and has just completed the sale of Uptown Station, the redevelopment of a former department store located in the Uptown district of downtown Oakland into a 355,000-square-foot office building leased by Square.
ABOUT CIM GROUP
CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests.