$94.8 Million Non-Performing Office Loan | Oakland, CA
Oakland, CA, US, Americas
25,821 m²
Asset Description
Jones Lang LaSalle Americas, Inc. (“JLL”) has been engaged as the exclusive advisor to extend to qualified investors the opportunity to acquire the fee simple interest in 1618 Franklin Street (the “ Property”), a 3-story, 100%-leased 26,612 square foot mixed-use asset located in Oakland’s Uptown submarket.
The Property boasts a diverse tenancy mix and uses including high-end creative office, a restaurant and medical/dental space offering a varied income stream and protected in-place cash flow via a WALT of 2.8 years.
1618 Franklin presents an investor with the opportunity to acquire a fully renovated mixed-use building with historic charm located in the heart of one of Oakland’s most exciting mixed-use neighborhoods.
Offering Price: $7,000,000 ($263 PSF) - 13.3% Cap Rate
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Attributes
Building area net
2,472 m²
Occupancy
100%
Year built
1921
Land area gross
0.1 ha
WAULT
2.8 years
Zoning
CBD-C
Media
Investment Highlights
- 100% Leased Above Grade
- Attractive office / retail mix with 2.8 years of WALT
- High-Quality Boutique / Creative Asset
- Offering exceptional office, high-end retail and medical space
- Bullseye Oakland Location
- Along Franklin Street corridor with abundant access to amenities and transit
- Compelling Owner-User Opportunity
- Well-configured for a downstream owner-user
Contact brokers
1618 Franklin (0 Properties)
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Last updated
16 May 2024
