{"id":1004652994,"date":"2023-03-24T05:41:30","date_gmt":"2023-03-24T13:41:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004652994"},"modified":"2023-03-24T05:41:32","modified_gmt":"2023-03-24T13:41:32","slug":"san-francisco-boutique-office-asset-changes-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/san-francisco-boutique-office-asset-changes-hands\/","title":{"rendered":"San Francisco Boutique Office Asset Changes Hands"},"content":{"rendered":"<div id=\"attachment_1004652997\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/25-Orinda-Way.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004652997\" data-attachment-id=\"1004652997\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/san-francisco-boutique-office-asset-changes-hands\/25-orinda-way\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/25-Orinda-Way.png\" data-orig-size=\"680,480\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"25 Orinda Way\" data-image-description=\"&lt;p&gt;25 Orinda Way. Image courtesy of JLL Capital Markets&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;25 Orinda Way. Image courtesy of JLL Capital Markets&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/25-Orinda-Way.png?w=680\" class=\"wp-image-1004652997 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/25-Orinda-Way.png?w=300\" alt=\"25 Orinda Way. Image courtesy of JLL Capital Markets\" width=\"300\" height=\"212\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/25-Orinda-Way.png 680w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/25-Orinda-Way.png?resize=300,212 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004652997\" class=\"wp-caption-text\">25 Orinda Way. <em>Image courtesy of JLL Capital Markets<\/em><\/p><\/div>\n<p><strong>Volwood Management <\/strong>has purchased 25 Orinda Way, a Class A office building in Orinda, Calif, a San Francisco suburb. <strong>Long Market Property<\/strong> <strong>Partners<\/strong> sold the asset for $12.8 million, with the assistance of <strong>JLL<\/strong>.<\/p>\n<p>Completed in 1974, the three-story, 28,931-square-foot boutique office property was renovated in 2018, now featuring an upgraded HVAC system and lighting. 25 Orinda Way was 91 percent leased at the time of sale.<\/p>\n<p>The asset is in the Layafette Orinda submarket, 9 miles outside Oakland and approximately 17 miles from downtown San Francisco. The property is close to Route 24 and Orinda Metro Station, which provide easy access across the Bay Area.<\/p>\n<p>Senior Director Erik Hanson, Senior Managing Director Rob Hielscher, Senior Director David Dokko, Managing Director Adam Lasoff, Associate Mike Matera and Analyst Caroline Reynolds led the JLL Capital Markets team working on behalf of the seller. Knute Bucklew, head of agency leasing at JLL, provided leasing advisory services.<\/p>\n<p>According to a recent <a href=\"_wp_link_placeholder\" data-wplink-edit=\"true\">CommercialEdge report<\/a>, San Francisco&#8217;s office sales amounted to $308 million in the first two months of 2023. The metro continued to struggle in terms of leasing activity; the vacancy rate was at 19.2 percent as of February, up 230 basis points over the year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The property was 91 percent leased at the time of sale.<\/p>\n","protected":false},"author":3014,"featured_media":1004652997,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21747,1609,15],"tags":[32796],"class_list":["post-1004652994","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-office","category-san-francisco","category-west","tag-jll"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>San Francisco Boutique Office Asset Changes Hands - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Volwood Management purchased a Class A office building in Orinda, Calif, a San Francisco suburb. 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