Boyd Watterson has bought Creekside Plaza Office Park, a three-building, 227,803-square-foot office campus that includes a development site in San Leandro, Calif., CommercialEdge data shows. Developer Innisfree Cos. sold the Class A property with the assistance of Cushman & Wakefield. According to the brokerage firm, the transaction was East Bay’s largest suburban office sale since 2019.
Innisfree, who had owned the property for more than 20 years, took a $70 million loan from Principal Life Insurance Co. in 2021 that the buyer now assumed. The project was built in phases between 2002 and 2010 and is one of the newest Class A, BART-oriented campuses in Alameda County.
Creekside Plaza Office Park feature four-story buildings and a parking ratio of 3 spaces per 1,000 square feet. The property has maintained an average historical occupancy of 98 percent despite the pandemic-induced market challenges, according to Cushman & Wakefield. Tenants include the Regional Center of East Bay, County of Alameda and Alameda County Health Care Services.
Located at 1000 San Leandro Blvd., the office park is across the street from San Leandro’s BART station and less than half a mile northwest of downtown San Leandro. Several retail, dining and entertainment options are available within a 1-mile radius. Interstate 580 is some 2 miles east, offering easy access into Oakland.
Ryan Venezia and Barry Cohn led the Cushman & Wakefield team representing the seller. The firm’s Seth Siegel, Steve Hermann, Rick Ryan, Kevin Flemming and David Englert also participated.