East Bay Community Energy Authority Buys Oakland Property for $8.5MM

East Bay Community Energy Authority, Oakland, Citrine Advisors, Lee & Associates

(EDITOR’S NOTE: According to public documents filed with the county, East Bay Community Energy Authority purchased the property from an entity associated with Oakland-based Citrine Advisors. The previous owners acquired the building in 2017 for $3.5 million and invested to complete upgrades to the asset and convert it to creative office space.)

September 27, 2021 (Oakland, CA) – Lee & Associates, the largest broker-owned commercial real estate firm in North America, announced the sale of 251 8th Street in Oakland, CA. The 15,087 square-foot office building was represented by Ben Jones, Dave McCarty, Neil Cowperthwaite and Joe McGlynn of Lee & Associates Oakland and sold for $8,500,000.00 ($563 per square foot). The renovated three-story office building features open ceilings, exposed brick and sits just 3 blocks from the Lake Merritt BART station. The building is on the corner of 8th St. and Alice St. and is walking distance to several dining and retail amenities. The buyer is an owner/user, a local non-profit that will move their headquarters into the space over the coming year.

ABOUT LEE & ASSOCIATES

Lee & Associates offers an array of real estate services tailored to meet the needs of the company’s clients, including commercial real estate brokerage, integrated services, and construction services. Established in 1979, Lee & Associates is now an international firm with offices throughout the United States and Canada. Our professionals regularly collaborate to make sure they are providing their clients with the most advanced, up-to-date market technology and information.

West Coast Commercial Real Estate News