Lane Partners will lead development and financing; Polaris Pacific will advise sellers on new project[Oakland, Calif.] Nov. 5, 2015 – Following the sale of Uptown Station to Uber Technologies in September 2015, Menlo Park-based commercial real estate developers Lane Partners announce the development of a two-plus acre project in the Uptown neighborhood of Oakland. Located at the intersection of 21st Street and Telegraph Avenue – just one block away from Uptown Station – the approximately 93,500-square foot space encompasses nearly the entire city block.
In order to complete the project, Lane Partners acquired land and entered into a joint venture agreement with Polaris Pacific and TB2 Retail Complex, the developer of the adjacent City of Oakland parking lot. Alan Dones, who leads TB2, was awarded the Exclusive Negotiating Agreement from the City of Oakland. TB2 and Lane Partners will work together to manage the project’s entitlement, development, financing and community engagement.
“We are very excited to be partnering with TB2 and Alan Dones,” said Andrew Haydel, Principal at Lane Partners. “Their long history of development in Oakland will be a key part of making this a successful project.”
Alan Dones’ original project envisioned developing the city site with 250 rental units, 15,000 square feet of ground-level retail, 220 residential parking spaces, and 350 public parking spaces. Under this scheme, the city would then repurchase the 350 public parking spaces at development cost, and retain for city revenues.
For more information about Lane Partners, visit www.lane-partners.com. For more information about Polaris Pacific, visit www.polarispacific.com
About Lane Partners
Lane Partners was formed in January of 2006 for the purposes of acquiring, developing, and managing institutional-quality real estate throughout Northern California. The expertise of the company lies within the ability to add value in a very cost effective way including physical rehabilitations, lease up and re-structuring, entitlements and general repositioning of assets. Currently, Lane Partners owns approximately 2,000,000 square feet in Silicon Valley.
About Polaris Pacific – Land Group
Polaris Pacific Land Group specializes in residential urban infill land acquisition and disposition strategy, entitlements, and land capital markets. The Land Group specializes in high-density land assemblages and public private partnerships. Polaris Pacific is the largest West Coast residential development sales & marketing firm, advising developers and their capital partners, and current clients include Tishman Speyer, Vanke, Veritas, Carlyle, Jon Stewart Company, and Oceanwide.