Elon Musk's Tesla Leases 40,000 Square Feet Office Space At 1960 Mandela Parkway Oakland
1960 Mandela Parkway
Building Size
40,000 SF
Asset Type
Office
Closing
Aug 14, 2026
AI
The property asset involved in the transaction is an office space located at 1960 Mandela Parkway in Oakland, CA, encompassing a total square footage of 40,000. The asset is part of a campus that has a total area of 440,000 square feet and is experiencing high demand from AI and advanced manufacturing companies for R&D and industrial space.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 1960 Mandela Parkway
- Market: Oakland, CA
- Landlord: SKB
- Tenant: Elon Musk - Tesla
- Date: 08/14/2026
In this transaction, Elon Musk represents Tesla as the tenant leasing the property from SKB, the landlord. Tesla's lease follows a significant lease by Jeff Bezos’ AI startup Prometheus, indicating strong movement within the market for high-power R&D spaces.
Players
Oakland Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93