{"id":1004127083,"date":"2015-09-09T03:17:43","date_gmt":"2015-09-09T11:17:43","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=360271"},"modified":"2022-03-04T07:22:00","modified_gmt":"2022-03-04T15:22:00","slug":"landmark-properties-jumps-at-berkeley-development-opportunity","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/landmark-properties-jumps-at-berkeley-development-opportunity\/","title":{"rendered":"Landmark Properties Jumps at Berkeley Development Opportunity"},"content":{"rendered":"

By Alex Girda, Associate Editor<\/em><\/p>\n

Landmark Properties<\/a> recently paid $18.5 million for the Bancroft Center, completing the first ever sale process in the property\u2019s history. Colliers International<\/a> handled the transaction on behalf of the seller, Bancroft Center Co., who has put the asset up for sale in 2014.<\/p>\n

\"The<\/a><\/p>\n

The Bancroft Center<\/p>\n<\/div>\n

Located at 2580 Bancroft Way, the Bancroft Center offers its new owner the possibility of redeveloping the asset as a mixed-use complex. According to a press statement announcing the transaction, local authorities have conducted a feasibility study on the property which concluded that the lot could accommodate a mixed-use project with up to 132 residential units and a retail component of roughly 21,000 square feet.<\/p>\n

Aside from the 30,370-square-foot retail building, the lot also includes the Fred Turner Building. The building\u2019s status as a city-designated landmark forces any developer to preserve the property as a part of an upcoming project. Given Landmark Properties\u2019 track record of developing and managing off-campus student housing throughout the country, as well the property’s proximity to the UC Berkeley campus, the Bancroft Center\u2019s future is all but certain.<\/p>\n","protected":false},"excerpt":{"rendered":"

Berkeley development opportunities don’t show up that often, but when they do, the price shows it.<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1609],"tags":[],"class_list":["post-1004127083","post","type-post","status-publish","format-standard","hentry","category-latest","category-san-francisco"],"acf":[],"yoast_head":"\nLandmark Properties Jumps at Berkeley Development Opportunity - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/landmark-properties-jumps-at-berkeley-development-opportunity\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Landmark Properties Jumps at Berkeley Development Opportunity\" \/>\n<meta property=\"og:description\" content=\"Berkeley development opportunities don’t show up that often, but when they do, the price shows it.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/landmark-properties-jumps-at-berkeley-development-opportunity\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-09-09T11:17:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-04T15:22:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/Bancroft-Center1.jpg\" \/>\n<meta name=\"author\" content=\"Alex Girda\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/landmark-properties-jumps-at-berkeley-development-opportunity\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/landmark-properties-jumps-at-berkeley-development-opportunity\\\/\"},\"author\":{\"name\":\"Alex Girda\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/540f0253de89dedaae7684239611b81c\"},\"headline\":\"Landmark Properties Jumps at Berkeley Development Opportunity\",\"datePublished\":\"2015-09-09T11:17:43+00:00\",\"dateModified\":\"2022-03-04T15:22:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/landmark-properties-jumps-at-berkeley-development-opportunity\\\/\"},\"wordCount\":190,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/landmark-properties-jumps-at-berkeley-development-opportunity\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/09\\\/Bancroft-Center1.jpg\",\"articleSection\":[\"News\",\"San Francisco\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/landmark-properties-jumps-at-berkeley-development-opportunity\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/landmark-properties-jumps-at-berkeley-development-opportunity\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/landmark-properties-jumps-at-berkeley-development-opportunity\\\/\",\"name\":\"Landmark Properties Jumps at Berkeley Development Opportunity - 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