Alameda County will soon auction off a nearly 200,000-square-foot office building that was originally planned to house county workers near the Oakland Coliseum.
The County Board of Supervisors voted to sell the Arena Center at 6775, 7001 and 7195 Oakport Street to the highest bidder in the October auction, According to the San Francisco Business Times.
The county set a minimum bid of $40 million, or $207 per square foot, for the 192,900-square-foot property on nearly 11 acres east of the stadium.
The company bought the three-tower office park for $32.5 million in 2014, then spent at least $6.5 million remodeling it. It later canceled plans to move three county departments into the center of the arena.
Arena Center, built in 2001, includes a 94,100-square-foot three-story building at 6775 Oakport; a 60,700-square-foot two-story building at 7001 Oakport; and a 38,000-square-foot building at 7195 Oakport ft single storey building with mezzanine, According to The Ivy Group.
The county began planning to sell the property through the Residual Lands Act in 2019. CBRE hired to market office building Until early June next year.
Ten years ago, Oakland wanted to redevelop the 800 acres surrounding the Oakland Coliseum into a corridor of hotels, tech offices and sports venues — making Arena Center prime real estate, According to The Business Times.
But with the raiders Heading to Las Vegas in 2020 With the A’s likely to leave, it’s unclear what will be redeveloped, or how they will affect the sale of the county property.
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Alameda County will be accepting written bids on this property until October 5 at 4:30 pm. The live auction, which will take place on Oct. 5, will allow oral bidders to submit bids at least 5% above the highest written bid received. 10.
Another county auction, scheduled for July 10, was postponed this week, according to reports, for the Oakland Raiders former headquarters and practice facility at 1150 Harbor Drive in Alameda. The real deal. The 17-acre site attracted 65 potential bidders, with bids starting at $35.8 million.
— Dana Bartholomew
