Full Service Bay Area Real Estate Firm Forays into Oakland with Purchase of Iconic Downtown Landmark
Emeryville, Calif. (September 26, 2013) – Harvest Properties, a commercial real estate investment and development firm based in Emeryville, today announced it has purchased 555 City Center in Oakland, California.
Harvest Properties acquired the property from CBRE Investors with partner Prudential Real Estate Investors for an undisclosed sum. Investment brokers involved in the transaction include Jeffrey Weber, Stephen Van Dusen, Mark Penrod, Darin Rodriguez and Daniel Cichocki of Eastdil Secured.
555 City Center is a 20-story, trophy quality class “A”, office tower and mixed-use development in downtown Oakland. Centrally located, the unique 490,000 square foot, LEED Gold certified building is the flagship of the Oakland City Center development, the East Bay’s premier business destination. Situated in an irreplaceable, transit-oriented location directly above the primary hub for the entire Bay Area Rapid Transit (BART) system, 555 City Center is downtown Oakland’s highest quality office tower with the highest occupancy and the largest concentration of credit tenants.
“The downtown Oakland market is very attractive to companies who seek unparalleled access to public transportation and a first in class business environment,” said John Winther, founder and managing partner of Harvest Properties. “555 City Center, as Oakland’s CBD market leader, is well situated to weather any downturns and benefit from market upswings”.
Harvest Properties will provide property management services for the asset. John Dolby and Dane Hooks of Cassidy Turley are representing Harvest as listing agents.
About Harvest Properties
Founded in 2002, Harvest Properties is a full service commercial real estate investment firm specializing in acquiring, developing, managing and financing commercial property, primarily through joint venture investments in Northern California. Harvest Properties strives to generate attractive returns for its financial partners and provide creative real estate solutions and outstanding service. Harvest Properties’ portfolio comprises approximately eight million square feet of office, industrial, R&D and retail properties in the San Francisco Bay Area.
For more information, please visit www.harvestproperties.net.
About Prudential Real Estate Investors
PREI®, which has been investing in real estate on behalf of institutional clients since 1970, is a leader in the global real estate investment management business, offering a broad range of investment vehicles that invest in private and public market opportunities in the United States, Europe, the Middle East, Asia, Australia and Latin America. Headquartered in Madison, N.J., PREI has other offices in Atlanta, Chicago, Miami, New York, San Francisco, London, Lisbon, Luxembourg, Munich, Frankfurt, Paris, Abu Dhabi, Mexico City, Sao Paulo, Sydney, Beijing, Hong Kong, Seoul, Singapore and Tokyo. In addition, PREI has representatives in Milan. As of March 31, 2013, PREI managed approximately $53 billion in gross real estate assets ($37.3 billion net) on behalf of more than 490 clients worldwide. For more information, visit http://www.prei.com.
Photo by 111th Aerial Photography Squadron, Julie & Pat Belanger