Phil Belling Of LBA Realty Acquires Office Tower In Emeryville For $72.5M From CBRE

The property asset involved in the transaction is a 391,600-square-foot office building located at 2100 Powell Street in Emeryville. The sale price for this asset was $72,500,000, translating to approximately $185 per square foot. The office tower is recognized as one of the city’s prominent office assets.

Summary of transation details:

• Property Type: Office
• Transaction Amount: $72,500,000
• Address: 2100 Powell Street
• Market: Emeryville
• Square Footage: 391,600
• Price Per Square Foot: $185
• Buyer: Phil Belling - LBA Realty
• Seller: Adam Gallistel & Andrew Glanzman - CBRE Investment Management

Phil Belling represented LBA Realty in the deal, while Adam Gallistel and Andrew Glanzman represented CBRE Investment Management as sellers. This transaction indicates a notable shift in market dynamics, as it was conducted at a steep discount for a significant office asset in the area.