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1/06/25
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San Francisco-based Blox Ventures has acquired the loan secured by the office building at 6001 Shellmound St in the Emeryville Public Market from PNC Bank, positioning the company to become the property’s new owner. The loan was purchased for $62 per square foot, which is a 68% discount to the $21.61 mil loan that matured in December 2024.
The eight-story, 109.3k sf asset, currently 60% leased, is part of Emeryville’s renowned mixed-use destination and offers panoramic views of the San Francisco Bay. Notably, the Emeryville Public Market was the first project in the United States to achieve LEED Platinum for Neighborhood Development, a prestigious certification awarded to properties that prioritize smart growth, walkability, and community.
The property, which Sagard Real Estate (formerly Everwest) purchased in 2017 for $33 mil, is located at the nexus of a highly skilled talent pool with connectivity to the broader region and proximity to UC Berkeley. Emeryville is home to globally recognized companies, including Pixar Animation Studios, Peet’s Coffee, and biotech leaders Bayer, Novartis, and Zymergen.
The Public Market further enhances the property’s appeal with its diverse mix of retail and dining options, fitness studios such as Orangetheory and CorePower Yoga, and the daily conveniences of a barber shop and nail salon. This dynamic environment creates a uniquely attractive workspace for tenants in the region.
Recent developments adjacent to the property include hundreds of multifamily units by AvalonBay and Essex, with additional plans for 500 new multifamily units by EAH Housing and AvalonBay, contributing to the area’s continued growth.
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