rare value-add investment opportunity
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EXECUTIVE SUMMARY | 1
RARE VALUE-ADD INVESTMENT OPPORTUNITYTRANSIT-ORIENTED CLASS A OFFICE BUILDING ON 1.03-ACRE SITE
UPTOWN OAKLAND
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire the 100% fee simple interest in 415 20th Street (the “Property”) located in the heart of Oakland’s thriving Uptown district. The Property, improved with a four-story, 82,893 square foot Class A office building, sits on a 1.03-acre site steps from the 19th Street BART Station. 415 20th Street is 100% owned and occupied by The Regents of the University of California (“UC Regents”). UC Regents will execute a short-term leaseback for the entire Property through 4Q 2020. The parcel’s size, favorable zoning, and coveted downtown location allow for a number of opportunities, including repositioning (and expanding) the existing office building or developing a new office, residential, and/or mixed-use tower.
Address 415 20th Street, Oakland, CASite Area 1.03 Acres
Building Area (Existing)1 82,893 SFNumber of Stories 4 + Lower LevelYear Built / Renovated 1965 / 2001 (Seismic Retrofit)% Leased 100% (leaseback thru 4Q 2020)Lease Type NNN
PROPERTY SUMMARY
1 Single-Tenant / Exterior Gross Area
EXECUTIVE SUMMARYEXECUTIVE SUMMARY
1 | EXECUTIVE SUMMARY
EXECUTIVE SUMMARY | 2
TRUE VALUE-ADD OPPORTUNITY ANCHORED BY CREDIT TENANTUC Regents (Moody’s: Aa2) will execute a short-term leaseback for the entire Property on a NNN basis through 4Q 2020. Upon UC Regents’ lease expiration, the Property can be converted to an open/creative plan for a single user or multiple tenants. This provides buyers with a unique opportunity to minimize downtime and realize cash flow while implementing repositioning plans.
OPTIONALITY / FUTURE DEVELOPMENT OPPORTUNITYThe 1.03-acre site sits in the heart of Oakland’s construction boom and lends itself to a number of uses. Zoned CBD-C and CBD-P, residential and non-residential uses (office, hotel, and retail) are permitted. The Property’s favorable zoning permits up to 498 market-rate residential units (density bonus allowed with affordable housing) and 897,020 square feet of non-residential uses as an expansion of the existing building, standalone second building, or new tower covering the entire site.
SIGNIFICANT UPSIDE POTENTIALSite Area 1.03 Acres / 44,901 SFZoning CBD-C, CBD-PAllowable Height No LimitResidential Density 1 1 Unit per 90 SF / 498 UnitsNon-Residential Density 2 20:1 FAR / 898,020 SFMixed-Use Density 498 Units 1 + 898,020 SF 2
Maximum Lot Coverage Bldg. Base ≤ 120’: 100% Bldg. Base > 120’: 85%
DEVELOPMENT / ZONING SUMMARY
1 Market-rate units; increased density allowed with affordable housing.2 Permitted uses include office, hotel (w/conditional use authorization), and retail.
FUTURE DEVELOPMENT OPPORTUNITY
MULTIPLE REDEVELOPMENT
SCENARIOS
REPOSITIONING OPPORTUNITY±13’6” Average Slab-to-Slab Heights Floor-to-Ceiling Windows Side-Core Configuration±15,500 Floorplates (Floors 2-4)
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IMMEDIATE ACCESS TO BART / MASS TRANSIT415 20th Street has immediate access to multiple public transportation options: directly adjacent to the 19th Street BART Station and within two blocks of 15 AC Transit / shuttle lines. BART is the Bay Area’s most widely utilized public transit system serving more than 400,000 daily riders and connects Oakland, San Francisco, and San Jose (2019) with major residential populations. The Property also benefits from excellent access to nearby freeways (I-580, I-880, and I-980).
WEBSTER STREET
BROADWAY
20TH
STRE
ET
FRANKLIN STREET
580
BUS/SHUTTLE STOPS
BUS STOP
BUS STOPS
TRANSIT-ORIENTED UPTOWN LOCATION 980
BART/AC TRANSITwi
thin Block1 2/
EXECUTIVE SUMMARY | 4
OAKLAND’S URBAN RENAISSANCE
± 10,000Residents
2315 Valdez St235 Units | 17,000 sf Commercial
The Grand236 Units | 8,000 sf Retail
2270 Broadway 223 Units | 8,000 sf Commercial
Rasa65 Units | 3,700 sf Commercial
1900 Broadway451 Units | 6,000 sf Retail
495 22nd St81 Units | 6,000 sf Commercial
1331 Harrison St172 Units | 3,600 sf Retail
The Paramount
FoxTheater
ADAM’S POINT
2538 Telegraph Ave97 Units (Approved)
Emerald Views 370 Units | 933 sf café
Broadway Grand 132 Units | 20,000 sf Retail
The Uptown Apartments665 Units | 9,000 sf Retail
1911 Telegraph330 Units | 57,000 sf Retail | 168 Hotel Rooms
The Essex - Lake Merritt270 Units
2630 Broadway235 Units
The Station on 12th423 Units | 22,000 sf Com/Retail
277 27th St450 Units | 59,000 sf Retail
2400 Valdez224 Units | 23,465 sf Retail
The Jefferson 80 Units
1110 Jackson St71 Units | 4,000 sf Commercial
226 13th St262 Units | 13,000 sf Retail
2302 Valdez | Alta Waverly233 Units | 31,472 sf Retail
2100 Telegraph Ave 80,000 sf Retail | 800,000 sf Office
528 Thomas L. Berkeley Way25 Units
1640 Broadway254 Units | 5,000 sf Commercial
1800 San Pablo250 Units
Packard Lofts23 Units
2401 Broadway | West Elm Hotel 72 Units | 17,439 sf Retail | 159 Hotel Rooms
Mason at Hive105 Units | 100,000 sf Retail
2305 Webster St 130 Units
2201 Valley St7,500 sf Retail | 757,000 sf Office
570 21st “The Moran”78 Units
2015 & 2016 Telegraph344 Units | 5 ,000 sf Commercial
1750 Broadway307 Units | 5,000 sf Commercial
2044 Franklin St357 Units | 5,385 sf Pre-Construction
1940 Webster St 173 Units | 1,700 sf Retail
1510 Webster St158 Units
250 14th St126 Units | 3,200 sf Retail Commercial
1314 Franklin St630 Units
285 12th St60 Units
1700 Webster St206 Units | 8,200 sf Retail Commercial
1717 Webster250 Units
Residential RetailRecently Developed CommercialProposed/Approved Under Construction
Lake Merritt
ROBUST RESIDENTIAL DEVELOPMENT PIPELINEOakland is seeing unprecedented demand for housing as young workers and families are drawn to the City’s dynamic quality of life and amenities. There are currently more than 5,500 residential units proposed or under construction within five blocks of the Property. A number of these projects also include ground floor retail. The recently completed and planned residential/retail developments within Oakland will continue to attract residents, retail users, and restaurants to the immediate area, further stimulating demand for office space and residential units.
UPTOWN LOCATION: OAKLAND’S HOTTEST NEIGHBORHOOD415 20th Street is located in the heart of Oakland’s trendy Uptown district. The Property, less than a block from Uptown Station, is steps from numerous bars, cafes, restaurants, and shops (95 Walk Score). There are 30 restaurants and bars within two blocks of 415 20th Street. This area is considered the “Location of Choice” for the technology and creative-oriented tenants driving Oakland’s leasing market.
2500 Webster St30 Units | 6,400 sf Retail
301 19th St224 Units | 5,000 sf Retail
250 17th St | Alice Street Apartments74 Units
40 Harrison @ Jack London Square333 Units | 2,400 sf Retail
200 4th St330 Units | 3,000 sf Retail
1433 Webster St176 Units | 2,000 sf Retail | 55,000 sf Office
INVESTMENT SALES
LEASING FINANCING
ADAM LASOFFLic. #01891096ph | [email protected]
RYAN VENEZIALic. #01864838ph | [email protected]
ERIC FOXLic. #01209035ph | [email protected]
SETH SIEGELLic. #01493953ph | [email protected]
JOHN DOLBYLic. #00870630 ph | 510.267.6027 [email protected]
DANE HOOKSLic. #01900402 ph | 510.267.6025 [email protected]
TERRY DALYLic. #01330089 ph | [email protected]
STEVE HERMANNLic. #01352679ph | [email protected]
CONTACTS