Oakland, CA – Today Ellis Partners announced the purchase of 1111 Broadway in downtown Oakland, California. This premier Class A building located in the City Center development is twenty four stories and contains 566,168-square feet. Terms of the transaction were not disclosed.
Ellis Partners is joined by several other institutional investors who have recently purchased other office buildings in the City Center complex. The new ownership plans to re- affirm 1111 Broadway’s presence as the premier business address in Downtown Oakland. Designed by famed architectural firm Gensler and constructed in 1990, 1111 has an expansive double-story stone clad lobby that flows out onto courtyards and plazas. The upper floors are large and column-less, enhancing the natural light and panoramic views from the floor to ceiling glass walls.
”We are thrilled to have the opportunity to own such a first class building right on top of a BART main transfer station,” said James Ellis, Managing Principal of Ellis Partners LLC. “We are confident that 1111 Broadway will increasingly be an attractive alternative for the many tenants experiencing rent shock across the bay,” he added.
“We look forward to working with the wonderful group of new and long standing City Center building owners and tenants in this dynamic, amenity-rich location”, said Melinda Ellis Evers, Managing Principal of Ellis Partners LLC.
Eastdil Secured represented both buyer and seller in this transaction.