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1/25/22
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Rubicon Point Partners, a woman- and minority-owned real estate company specializing in transformative investments, has acquired a majority interest in the iconic Rotunda Building in downtown Oakland. It was sold by Rotunda Partners II, who have owned the building since 1999 and will continue as a minority owner.
The Oakland Rotunda is a seven-story, 325k sf Class A office building featuring 18-foot high ceilings, 10-18-foot high windows and a breathtaking 180-foot tall central glass dome. Boasting some of the Bay Area’s best examples of Beaux-Arts architecture, the building also includes a four-story parking garage.
Located at 300 Frank H. Ogawa Plaza, across from City Hall in Downtown Oakland, the property was built in 1912 and originally designed by Bay Area architect Charles Dickey, who fitted a dramatic elliptical glass dome in the interior atrium. At the time, the dome was said to be the largest of its kind. He was also known for developing a diverse architectural style, fusing elements of Hawaiian and Beaux-Arts design. Dickey’s most recognizable California creations, the Oakland Rotunda Building and Claremont Hotel, proudly sit on the National Register of Historic Places.
Rubicon plans to roll out its “Work From Here” program and put in place a sustainability plan to reduce the building’s carbon footprint. The “Work From Here” program focuses on creating workspaces that are amenitized in ways not available at home, emphasizing employee health and wellness while enabling employers to better accommodate a hybrid workforce. Rubicon plans to introduce a state-of-the-art fitness facility, upgraded common areas, hybrid digital conferencing and collaboration infrastructure.
Rubicon purchased the eight-story property through the Rubicon First Ascent Fund, seeing an opportunity to simultaneously preserve an Oakland treasure while reducing its environmental impact. The firm has been busily transforming similar historic spaces from California to Washington for the past decade such as 450 Shotwell, the Storek building, 1125 Mission Street and Masin Block.
Rubicon plans to continue offering the building to be used as an event space for galas and events that benefit the City and are essential to the success of the people of Oakland.
“Being good environmental stewards is important to us at Rubicon. In addition to modernizing the Rotunda, we plan to reduce the building’s carbon footprint in the process. We hope the Rotunda Building will serve as a blueprint for how historic spaces can remain sustainable for future generations,” said Razmig Boladian, Rubicon’s co-managing partner. “Our playbook at the Rotunda Building involves investments in the building systems and the deployment of our technology stack, including machine learning utility management systems. All of these serve to increase efficiency while reducing the building’s carbon footprint.”
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