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2/16/22
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Safe Passages, an Oakland-based non-profit, has purchased 1017 Clay Street, a three-story, 13.5k sf, historic office/retail building located in downtown Oakland, for $3.2 mil ($237/sf). The seller was a family trust.
Built in 1912, the property includes 4.2k sf of ground floor retail space that is leased to a Brazilian steakhouse restaurant. Safe Passages intends to occupy all of the office space.
With a more than 25-year track record, Safe Passages is an organization that disrupts the cycle of poverty by engaging youth and families to build and drive a continuum of services that supports student success and community development. Safe Passages was renting a space just a few blocks away from this new location and will be relocating later this year once it is renovated for its specific use. 1017 Clay Street will triple the non-profit’s space.
The property is walkable to dozens of retail and dining amenities in downtown Oakland. It is also a one-minute drive to 12th Street Oakland City Center Station and is a 15-minute drive to Oakland International Airport.
Anthony Shell, LEEP AP, with Avison Young represented the buyer in the deal.
“There has been a lack of demand for office properties since the pandemic in the Oakland market,” said Shell. “However, this transaction was beneficial to the non-profit buyer as it was able to secure an ideal location and own the asset as well as take advantage of a million-dollar reduction on the original asking price.”
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