By Alex Girda
Oakland, Calif.—Following the purchase of the 1330 Broadway office building at the end of last year, TMG Partners announced the acquisition of another high-profile Oakland asset from seller Metrovation. The company recently closed on the purchase of 2201 Broadway, an office building in the city’s Uptown submarket. The buyer worked with Newmark Cornish & Carey representatives Michael Taquino, Dan Cressman, and Kyle Kovac.
Located in an area that offers dining, entertainment and retail options, the office building offers a total of 198,000 square feet of space. The eight-story asset provides easy access to a BART station and is part of an area of the city that has become synonymous with development. Roughly $1 billion worth of real estate is in various planning stages in and around Uptown, thus preparing the area for a resurgence.
The building was designed with a strong art deco influence, and offers tenants large floorplates. “We believe it will be a standout address for technology and other office tenants,” said TMG Partners Director of Development David Cropper. Company CIO Matt Field also pointed out that the new acquisition allows the company to continue its pursuit of value-add assets.
Image courtesy of TMG Partners