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PG&E Acquires 29-Story HQ In Oakland From TMG Partners For $900M

Property Image
SOLD
$900,000,000

California

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Office910,000 SF
Sold 07/07/2023
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Property Image
SOLD

PG&E Acquires 29-Story HQ In Oakland From TMG Partners For $900M

300 Lakeside Dr, Oakland, CA 94612, USA

See Similar Deals
Office910,000 SF
Sold 07/07/2023
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$989
Total Square Footage:910,000 SF
Transaction Type:Sale

PG&E has acquired its 29-story headquarters in Oakland for nearly $900 million. The purchase of the 910,000-square-foot office building located at 300 Lakeside Drive is expected to close this month. This transaction marks PG&E's move from its previous location in San Francisco, solidifying its presence in Oakland's market.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $900,000,000 (Approx.)
  • Square Footage: 910,000
  • Price per Square Foot: $989
  • Address: 300 Lakeside Drive
  • Market: Oakland

In this deal, PG&E, represented by Patricia Poppe, acted as the buyer. TMG Partners was the seller of the property. The sale price of $900 million highlights the significance of this transaction, further reinforcing PG&E's commitment to Oakland as it establishes its new headquarters at 300 Lakeside Drive.

Players

Patricia Poppe
PG&E
Patricia Poppe
3 deals$1.8B volume
BUYER
TMG Partners
TMG Partners
SELLER

Details

SOLD
IMAGE: Patricia Poppe DATE: 07/07/2023 ADDRESS: 300 Lakeside Drive MARKET: Oakland ASSET TYPE: Office BUYER: PG&E - Patricia Poppe SELLER: TMG Partners SALE PRICE: $900,000,000 (Approx.) SF: 910,000 ~ PPSF: $989 NOTE: PG&E has acquired its 29-story headquarters in Oakland for nearly $900 million, completing its move from San Francisco. The purchase of the 910,000-square-foot hub at 300 Lakeside Drive is expected to close this month.

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