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3/15/23
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The historic Palace Theater in Oakland was acquired by BayTech Charter School for use as a new location for BayTech Charter School, or the Bay Area Technology School. The property, located at 1445 23rd Ave, fetched $2.2 mil.
Originally built in 1923 for vaudeville performances, the Palace Theater transitioned to a movie theater in 1931 before serving as a church space from 1953 to 2013. The building continued to serve as an events and church space until BayTech’s acquisition.
BayTech plans a three-story renovation of the building to include a gymnasium, lobby areas, several classrooms and administrative offices, while retaining much of the building’s historic architecture. The project is scheduled for completion in fall 2024.
Founded in Downtown Oakland in 2004, BayTech is a tuition-free college-preparatory public charter school serving 6th through 12th grade, with emphasis on STEM education. BayTech is consistently ranked in the top three of all Oakland public schools, with a 100% high school graduation and UC A-G readiness rate for the past 5+ years. 84% of BayTech’s student population classify as socio-economically disadvantaged.
Shawn Klein of Newmark, in collaboration with Haley Klein of Maven Properties, represented the buyer in the deal. Ben Weinstein of Weinstein Local repped the undisclosed seller in the transaction.
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