Real Estate Allies Buy Choice Downtown Oakland Site, Eye New Tower

OAKLAND, CA — A prime site for development in downtown Oakland has been bought by real estate allies that are eyeing the property as the location of a modern office tower. The property where the office high-rise could sprout is located at 1919 Webster St. at the corner of 19th Street in downtown Oakland. Ellis Partners, a veteran Bay Area developer, and Intercontinental Real Estate, a real estate firm with a nationwide reach, have teamed up to buy and develop the property. The development alliance paid $23.5 million for the property, according to documents filed on April 2 with the Alameda County Recorder’s …

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