Oakland, CA (October 29, 2018) — NAI Northern California, the Bay Area presence for NAI Global and the largest commercial real estate brokerage network in the world, is proud to announce the $10.45 million sale of the Fruitvale Gateway Building in Oakland.
The Mitchell Warren Team, including Vice President Kent Mitchell and Senior Investment Advisor Tim Warren, and Principal Grant Chappell represented both the Buyer and Seller of this transaction.
“We worked for over a year to get this done. We never stopped pursuing leads and supporting multiple escrow efforts until the right buyer closed,” said Mitchell.
The acquisition of the two-acre, eight-story office tower includes more than an acre of land remaining for development. Centrally located with easy access to various transportation points including Fruitvale BART station and interstate freeways, this transaction offers the Buyer a rare development opportunity for increased rental options or a new type of property.
The Fruitvale Gateway Building is a strongly-occupied 50,008 square foot office building located on International Boulevard in the Fruitvale District of Oakland. Historically, the property has benefited from strong rental demand from a diverse tenant background, due in part to its close proximity to various amenities and the high quality of space it provides.
About NAI Northern California
NAI Northern California is a full service commercial real estate firm serving the Northern California Bay Area. Our team delivers technology-enabled commercial real estate services that create value for our clients, industry, and communities.
NAI Northern California is a partner of NAI Global, the largest commercial real estate brokerage network with more than 400 offices worldwide and over 7,000 professionals completing in excess of $20 billion in commercial real estate transactions globally.