Alameda, CA – CEP Harbor Bay LLC, an entity controlled by San Francisco-based Ellis Partners LLC announced today that it has acquired another commercial property in the Harbor Bay submarket of Alameda. The building, a two-story multi-tenant office complex, was purchased from an affiliate of Santa Ana-based Triple Net Properties. The transaction comes months after Ellis Partners’ acquisition of the nearby Alameda Technology Center.
“The buildings we now own are located just blocks away and reflect our belief in the attractiveness of this unique location,” said Jason Morehouse of Ellis Partners. “Businesses will be drawn to the area more than ever before by the recently completed Ron Cowan Parkway, which provides immediate access to the Harbor Bay submarket from the I-880 freeway.”
Built in 2001, 1600 Harbor Bay boasts 61,463 sqf of modern, top quality office space spread over two floors. The property is currently 60% leased. Its tenants include gourmet meat company Niman Ranch and offices of the State of California.
The remaining vacancies are located primarily on the second floor. The building’s proximity to the waterfront affords spectacular bay views. The available space offers excellent tenant flexibility and is available in a variety of square footages and configurations. As with Alameda Technology Center, the property will be managed by CAC Real Estate Management Company.
“We expect Harbor Bay to draw tenants seeking a high quality business park environment at rents that are competitively priced,” added Jason Morehouse of Ellis Partners. “The higher-cost surrounding areas of Berkeley, Emeryville, and Oakland, are seeing increased rents and a growing lack of available space. This creates an excellent opportunity for businesses to relocate to Harbor Bay where they’ll receive outstanding value as well as all the amenities they’d expect to find in the surrounding areas.”
About Ellis Partners:
Ellis Partners LLC (www.ellispartners.com) was founded in 1993 for the purpose of acquiring and developing commercial real estate properties. The firm has a long history of championing and completing architecturally significant renovation and development projects.