OAKLAND — A Entire Meals retailer property in Oakland {that a} decade in the past was a magnet for protests and vandalizations has now enticed an actual property purchaser to spend money on the East Bay’s largest metropolis.
An unidentified purchaser has paid $44.4 million for the Entire Meals website, in keeping with JLL, a business actual property agency that organized the property deal.
The Entire Meals retailer is at 230 Bay Place on the sting of downtown Oakland.
In 2011, the shop was vandalized and its home windows have been damaged as a part of the Occupy Oakland and Oakland Basic Strike protests directed towards Company America, the federal government and different giant organizations.
But the shop has remained open and generates sufficient income and attracts adequate prospects that it has landed a purchaser for the property.
JLL Commerical actual property brokers Eric Kathrein, Geoff Tranchina, Gleb Lvovich and Warren McClean organized the transaction.
“We love bright spots to the Oakland story, and this investor was able to understand the quality of this location and make a great strategic bet,” mentioned Kathrein, a JLL managing director.
The Entire Meals Bay Place totals 57,200 sq. ft. The prevailing Entire Meals lease runs for greater than a decade.
“This Whole Foods ranks top among its 22 locations throughout the Bay Area and with 12 years of lease term is a great acquisition with irreplaceable credit,” mentioned Tranchina, a JLL managing director.
The wholesome and natural meals market occupies a 2.2-acre website on quite a bit on the nook of Bay Place and twenty seventh Avenue. This provides the shop excessive visibility.
“The immediate area surrounding Whole Foods is densely populated being home to more than 289,000 residents within a three-mile radius,” JLL said. “Given its location in downtown Oakland, the property is walkable to numerous multi-housing communities and is served by public transport nearby, including BART.”
