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10/31/18
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The Fruitvale Gateway Building, an eight-story, 50k sf office property in in the Fruitvale District of Oakland has sold in a recent $10.45 mil ($209/sf) transaction. The property, situated on two acres at 2648 International Blvd, includes more than an acre of land remaining for development.
Centrally located with easy access to various transportation points including Fruitvale BART station and interstate freeways, the acquisition offers the buyer a rare development opportunity for increased rental options or a new type of property. Historically, the property has benefited from strong rental demand from a diverse tenant background, due in part to its close proximity to various amenities and the high quality of space it provides.
Kent Mitchell, Tim Warren and Grant Chappell with NAI Northern California represented both parties in the transaction.
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