By Kate Snyder
Activity in Oakland continues at a steady pace with the acquisition of an office park located just a couple of miles from Oakland International Airport.
An entity affiliated with HP Investors has purchased the Edgewater Park Plaza office complex earlier this year for approximately $35.7 million, or about $167 per square foot, according to public records. The seller was an entity affiliated with California Capital and Investment Group.
The property is located at 7700 Edgewater Drive in Oakland and consists of two two-story buildings totaling 213,600 square feet, public records show. The buildings were constructed in 1976 and sit on approximately 10.6 acres.
According to marketing information from California Capital and Investment Group, the plaza is near Oakland International Airport and offers amenities such as on-site parking, on-site security, a conference room, gardens and the potential for fully customized office suites.
The site is located within walking distance to Martin Luther King Jr. Regional Shoreline – which offers biking trails, fishing, picnic areas & scenic bay views – as well as local cafes & eateries such as In-N-Out, Chipotle and Starbucks, according to marketing documents. The plaza is also accessible from I-880 directly across the freeway from Oracle Arena.
HP Investors is a real estate investment firm based in San Diego, and according to the firm’s website, it focuses on acquisition, development, and management of commercial properties
in high-barrier-to-entry markets along the West Coast. Earlier this year, the firm was involved with the sale of three core, single-tenant net-leased assets totaling 194,303 square feet for $89.8 million in the Kearny Mesa submarket within San Diego, according to The Registry’s previous reporting.
Based in Pleasant Hill, Calif., California Capital and Investment Group was founded in 1992 and is a commercial real estate company that specializes in commercial development, commercial brokerage, construction management, property management and investments, according to the company’s website.